The Navigator Company: Update regarding Forest Fires in Portugal

Forest fires update

The Navigator Company is closely monitoring and involved in the field procedures against the violent fires that ravage the center of Portugal. During this dramatic moment and amid an intense nationwide commotion, our first thoughts go to the families of the victims and to all those who, under adverse conditions and at the risk of their own lives, engage in firefighting operations.

Navigator has its own teams deployed in the field from the very beginning, namely those that integrate the industry own firefighting entity (Afocelca). Currently, the fires have extended to three areas in the center of Portugal ‐ Pedrogão Grande, Góis and Sertã. Even though it is still premature to make a correct assessment of the extent of the fires, preliminary data from Afocelca points to approximately 49 thousand hectares impacted, of which Navigator´s own forest represents less than 2%, circa 900 hectares. The Group continues to permanently monitor the situation and does not anticipate any risk regarding the supply of wood.

Good management of land and forest and of its surroundings areas, as well as a constant effort regarding prevention have contributed decisively to the limited impact of the fires on the areas managed by Navigator.

The immediate and urgent priority is to overcome this unequal struggle against one of the most violent rural fires in Portugal. However, The Navigator Company, as a forestry company with a deep knowledge of the national reality, expects that this will represent a turning point towards more strict forest management practices, which the Group has always pursued, contributing decisively to reduce the occurrence of such tragic events.

Setúbal, June 22, 2017

THE NAVIGATOR COMPANY, S.A.

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