Board of Directors

The Board of Directors is responsible for the management of the Company. It´s composed of seven members, of which five out of seven are independent, pursuant of transparency and alignment with the certificate holders interests. Each Director is elected annually at the Shareholders Annual General Ordinary Meeting. All Board Members hold the positions for one year and may be reelected.

Terrafina values the benefits that diversity can bring at all levels, thus fostering different perspectives and ideas that promote better governance. In the process for the search, selection, nomination and appointment of the members of the governing bodies, diversity in experience, knowledge, gender and nationality will be considered.

Set forth below are the name, position and description of the business experience of each of Terrafina's directors on its Board of directors.

Name
Position
Alberto Chretin Chairman, Director & CEO
Enrique Lavín Director
Eduardo Solís* Director
Arturo D'Acosta* Director
José Luis Barraza* Director
Víctor D. Almeida* Director
Carmina Abad* Director
Timothy J. Pire* Director
*Independent Directors, pursuant of the Mexican Securities Market Laws

Alberto Chretin: Terrafina’s CEO and Chairman of the Technical Committee

Alberto Chretin is Terrafina´s Chief Executive Officer and Chairman of the Board. Mr. Chretin is responsible for the preparation of our business strategy and the execution of our vision, goals and business plan. Before joining Terrafina, Mr. Chretin served as a Minister of Economy for the state of Chihuahua, Mexico, and as Executive Advisor of PREI in connection with Terrafina´s initial portfolio. Prior to joining PREI, Mr. Chretin was Managing Director at Verde Corporate Realty Services, where his duties included marketing, promotion, leasing, development, investment and property management. Previously in his career, Mr. Chretin was CEO at Intermex, Chihuahua, where he doubled the size of the Company’s industrial portfolio, and Executive Director of Parques Industriales de Chihuahua, S.A. de C.V. Mr. Chretin has also served as Executive Director of the Mexican Association of Industrial Parks (AMPIP) from 2009 to 2010.

Mr. Chretin holds a Bachelor’s degree in Management and Mechanical Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and attended the AD-2 program at the IPADE Business School in Mexico.

Enrique Lavín: Managing director at PGIM Real Estate and Head of Mexico & Deputy Head of Latin America of Portfolio Management

Enrique Lavin is responsible for providing strategic direction and overseeing the performance of US $3.0 billion of assets under management Enrique is also responsible for heading the business development efforts and thereby responsible of structuring private and public equity raising initiatives for the region, as well as for managing PGIM Real Estate’s relationships with investment banks and investors. Overall, during his tenure at PGIM, Enrique has executed an aggregate of US$7.0 billion of transactions, both in public and private markets, and including debt, equity and M&A. His experience in the real estate industry includes 18 years in the real estate industry in Mexico and US$8.0 billion of transactions in positions such as vice president at Credit Suisse for the Real Estate Finance and Securitizations group and director of Debt Origination at GE Real Estate. From 2011 to 2012, Enrique was a member of the board of directors of Paz Corp., a public homebuilder based in Chile and is currently a board member of Terrafina (MXSE: TERRA13), Chairman of the Real Estate Committe of AMEXCAP as well as member of the PGIM Latin America Investment Committee.

Mr. Lavin holds a degree in Industrial Engineering from the Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM) and a MBA from the University of Texas at Austin, where he was recipient of the Global Star Award.

Eduardo Solís: Independent International Consultant

Since 2020, Eduardo Solis serves serves as consultant, specializing in the areas of international trade, global supply chains development, business and market intelligence strategies, supporting the design of Public Policies, as well as Industrial Development and Investment Promotion projects. Recently, Dr. Solís has been appointed by the Inter-American Development Bank (IADB) to develop an agenda directed to strengthen local suppliers and to attract FDI into Mexico. As result of the entry into force of USMCA and other global events. Additionally, the Secretariat of Foreing Affairs of Mexico (“Relaciones Exteriores”) has invited Dr. Solís to train all the Mexican representations abroad (embassies and consulates) in best practices to attract FDI and the identification of business opportunities in Mexico. He has been President of the Mexican Association of the Automotive Industry (AMIA) until 2020. Prior to this, Mr. Solis worked at the Ministry of Economy, where he served as the Head of the Unit for the Promotion of Investment. He was responsible for attracting key strategic projects to Mexico. Previously, Mr. Solis was responsible for the administration of NAFTA and was Mexico’s Chief Trade Negotiator with Latin America. He negotiated free trade agreements with Chile, Nicaragua, Uruguay, Guatemala, Honduras and El Salvador, as well as bilateral agreements with Brazil, Argentina, Panama and Peru. Mr. Solis was also Mexico’s Chief Negotiator in the Free Trade Agreement of the Americas, and worked at the Ministry of Commerce and Trade as Head of Negotiations for the agricultural chapter of NAFTA, as well as for the free trade agreements with Costa Rica, Bolivia, Colombia and Venezuela, and the World Trade Organization (WTO) Uruguay Round.

Mr. Solis has a Bachelor’s degree in Economics from the Universidad Autónoma de Nuevo León, and received a Master’s degree and a Ph.D. from The University of Chicago and the University of Rochester, respectively.

Arturo D’Acosta: Financial Consultant and Board Member of Grupo KUO and DINE, and of Hospitales Mac

Arturo D’Acosta is board member of Grupo KUO and DINE (Mexican public companies) and board member of Hospitales Mac (privately held Company). Mr. D’Acosta is a financial consultant and responsible of one of the more important Family Offices in Mexico from 2021 to date; he was an executive director of Actinver until 2021 and Alvarez & Marsal (A&M) from 2010 to 2014. Mr. D’Acosta is responsible for providing consulting services to companies in Mexico as a specialist in financial administration. Mr. D’Acosta also serves as President of the Securities Listing Committee for the Mexican Stock Exchange, where he analyzes and authorizes capital and debt placements. Previously, Mr. D’Acosta was CFO for Grupo Industrial Saltillo and Corporate Director of Finance and Administration at DESC (now divided into KUO and DINE; specialized in real estate development, food, petrochemical and automotive sectors), where he was responsible for several financial restructurings, bond and equity issuances in Mexico and the U.S.A.

Mr. D’Acosta earned a B.B.A. from the Escuela Bancaria y Comercial; holds an MBA from the Instituto Tecnológico Autónomo de México (ITAM) and Corporate Governance specialist at Columbia University.

José Luis Barraza: Former Chairman and Board Member of Aeromexico

Jose Luis Barraza was Chairman of the Board of Directors of Grupo Aeromexico and President of the Executive Committee of Aeromexico as well during 6 years and participated as a board member for 3 additional and involved in the Audit and Corporate Practices Committees. Mr. Barraza has a track record in international commerce and industrial development for over 30 years. He has served as Chairman of the boards of Proyectos Inmobiliarios Impulso, Optima, Administración de Servicios Optima, Realiza y Asociados, and Inmobiliaria Realiza. Mr. Barraza has also been a board member of numerous financial, educational and philanthropic institutions. From 2003 to 2004, he was President of the Employers’ Confederation of Mexico (Coparmex), and between 2004 and 2007 served as President of the Business Coordinating Council (CCE).

Mr. Barraza has a degree in Mechanical Engineering with a specialty in Business from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and he earned his postgraduate degree in Advanced Administration from the IPADE Business School. In addition, he has an Honorary Doctorate from the Mexican Academy of International Law.

Victor D. Almeida: President of the Board of Interceramic

Victor D. Almeida has taken on several roles within Interceramic, a Mexican public company leader in the manufacturing of precision-crafted tile since 1979. He has served as General Manager from 1982 to 2020, and currently as President of the Board. Mr. Almedia has participated in various Regional Boards for Banamex and is currently member of the Ciudad Juárez Board. He is also in the Board of several private organizations representing Mexican businessmen and businesswomen, such as the Business Coordination Council (CCE, Consejo Coordinador Empresarial) and the Confederation of Employers of the Mexican Republic (COPARMEX, Confederación Patronal de la República Mexicana), as well as member of the Board of a number of some museums in North America.

Mr. Almeida holds a Bachelor’s degree in Business Administration from the University of Texas in Austin.

Carmina Abad: President of the Board and Regional CEO at COFACE LATAM

Carmina Abad is currently President and Regional CEO of COFACE Latin America (French insurance company for foreign trade, listed on Euronext). Ms. Abad is Chairwoman of the Board of the Argentina, Brazil, Chile, Colombia, Ecuador, Mexico and Peru regions in addition to the Holding Company. Previously, she was CEO and President of Swiss Re Mexico (2016-18) and served as CEO and Chairwoman of the Board of MetLife Mexico and AFORE MetLife as well as President of MetLife Foundation (2010-15). Ms. Abad specializes in financial and insurance industry, which includes a special focus on risk management: actuarial, credit, operational, political, country risk, industrial sector, climate, reputational, among others, as well as crisis management, implementation of the Anti-Money Laundering Act (AML) and Solvency II (equivalent to Basel III).

Ms. Abad holds a degree in Actuarial Science from the Universidad Nacional Autónoma de México (UNAM) and has postgraduate studies in Management from the Instituto Panamericano de Alta Dirección de Empresas (IPADE) and several studies at Smith College, Kellogg School of Management and Harvard Business School.

Timothy J. Pire: Board Member of AREIT and Professor at the University of Wisconsin

Tim Pire has over 30 years of professional experience across several functions in the real estate industry. Mr. Pire developed an extensive leadership track record in REIT management where he was responsible for fund raising, investments, P&L management, and operations at different real estate platforms across the United States, Asia, and Europe.Mr. Pire currently holds a board position with AREIT, a listed Filipino Real Estate company. In addition, Mr. Pire is a Professor at the University of Wisconsin, Madison for MBA students with a specialty in real estate. Mr. Pire is also a National Association of Corporate Director Governance Fellow, an active member of the National Association of Real Estate Investment (NAREIT) where he participates in the Institutional Investor Committee. Before that, Mr. Pire served as an independent board member at Monogram Residential Trust, where he chaired the Audit Committee. Previously, he spent over 26 years at Heitman LLC, where his last position was as Chief Investment Officer, Senior Managing Director, and Global Strategist for the Public Securities Unit. In that position he led the public securities investment function and assisted in providing firm-wide global economic and real estate outlooks.

Mr. Pire holds a BBA in Banking and Finance and an MBA focused on real estate from the University of Wisconsin, Madison. He is a Chartered Financial Analyst (CFA).