Company Name Sunce hotels d.d. for tourism and hospitality, registration number (MBS): 080502040, personal identification number (PIN): 06916431329. Abbreviated company name is Sunce hotels d.d. Registered seat and legal form Sunce hotels d.d. is a joint stock company. The Company's registered seat is in Zagreb, Trpinjska 9, Republic of Croatia, phone number: + 385 1 3844 044. Organisational structure Sunce is the parent company of the Group, founded in 2004. Also, Sunce has a Joint Venture entity (50/50) with a global tourist group TUI AG. Additionally, the Company has a 49% interest in the Management company with the same partner. A graphical display of Sunce hotels d.d.'s organisational structure may be downloaded from this link. Bluesun Hotels & Resorts Bluesun Hotels & Resorts is the name under which Sunce hotels manages most of the members of its Group. The right of use of the said brand name has also been provided to certain companies outside the Group on the basis of business cooperation agreements. Our business With 11 beachfront hotels on the Adriatic coast, 1 camp site and 1 leased property compromising 2,976 units, its own airport on the Island of Brač and other tourism assets located in 4 popular touristic destinations in Croatia, Sunce is one of the leading tourism groups in Croatia. Additionally, its joint venture with TUI AG has one premium hotel property (TUI Blue Jadran) offering 161 units. Under our current business model, we typically both own and manage properties. The Company owns all except one of the properties, which it leases through a subsidiary. The Group’s properties are covering all market segments, from Economy to Premium. The Group is undergoing through refurbishment cycle with an upgrade of existing lower quality assets. This should increase profitability, while increasing our competitive advantage, as there is stronger competition (supply) in lower quality segment from private accommodation facilities. Properties are mostly managed and operated under an in-house brand, “Bluesun Hotels and Resorts”. A significant part of the Group’s units is booked through Allotment contracts with various global touroperators. They provide guarantees for certain period of occupancy. Also, the Company has signed different franchise contracts to use rights for certain brands and trademarks, under which we are paying certain fees, while keeping the management of the property. In most cases these fees consist of a percentage of propertylevel revenue.