Registry of PVLBJM

We hereby inform that, on 16^th November, 2018, 500.000.000,00 EUR of commercial paper, with a nominal value of 50.000,00 EUR, of the company PARVALOREM, S.A., shall be registered, regarding the issue "PARVALOREM - 31. EM PC 2011 - PRG 1.000.000.000 EUR (CBI)", under the code PVLBJM (ISIN PTPVLBJM0023).

This issue will be cancelled on 17^th May, 2019.

INTERBOLSA, 15^th November, 2018