This is a Google translation (therefore, please excuse any translation mistake) of the report that the Bankruptcy Administrator presented this month. It is not that it is very encouraging. He is trying to locate assets or rights of economic content to reintegrate them into the Silverpoint heritage and thus be able to pay something of the much that has been left outstanding. I will try to provide data and information on the evolution of these investigation works in future posts.

TO THE COMMERCIAL COURT NUM. 1 OF SANTA CRUZ DE TENERIFE

SUBJECT: PERIODIC REPORT ON ADMINISTRATION LIQUIDATION OPERATIONS CONTEST.

Mr. Miguel Ángel Vera Martín-Peñasco, with ID 30.540.515-B, acting as Designated Insolvency Administration of the company SILVERPOINT VACATIONS SL EN LIQUIDATION with CIF: B-38.101.416, before this Court I appear and, as best proceed in Law, respectfully SAY:

Through this writing and in compliance with the obligation imposed by the aforementioned art. 424 of the LC, comes to be completed PERIODIC REPORT OF LIQUIDATION OPERATIONS, as of February 12, 2021.

INDEX.

I. Operations carried out with respect to the active mass.
II. Credits against the estate and insolvency paid

I. Operations carried out with respect to the active mass.

SILVERPOINT VACATIONS, SL IN LIQUIDATION is declared in Contest of Creditors by Order dated December 9, 2019, following said procedure before the Commercial Court No. 1 of Santa Cruz de Tenerife, under the No. of Cars 650/2019. Said entity enters the liquidation phase on that same date, having opened in the aforementioned Order with that character.

On October 23, 2020, the Order approving the Plan is declared of Liquidation presented, with the modifications proposed by the judicial body, to the which will have to submit the liquidation operations of the asset.

In relation to the active mass, the following actions have been carried out daily today in the period from October 27, 2020 to today, October 12, February 2021:

1. Management of collection of debt credits.

Various procedures are being carried out by this Bankruptcy Administration aimed at the collection of debit balances in favor of the bankrupt, through various routes:

- Through the specialized entity EVALUA AGF they are claiming by assignment of the same, those debit balances included in the bankruptcy against various debtors whose realization is considered doubtful by of this Administration, claiming through this means some rights totals amounting to € 4,509,771.05.

2. Management related to fixed assets.

2.1. Vehicle sale.

By this Insolvency Administration it was requested on July 10, 2020 to this Mercantile Court, we proceed to authorize the sale of a vehicle in the name of the bankrupt (Austin Mini Moke), once an offer is received purchase, taking into account the state of impairment of the same and the generation of expenses thereof, for an amount of 3,000 euros.

On November 30, 2020, an order was received from the judicial body in the one that is authorized for sale by reference to the provisions of the Liquidation Plan aforementioned, for which it proceeded to its sale in December at the WHEELER DEALER SL entity, for the established amount of 3,000 euros (to which includes the corresponding IGIC).

The amount of said sale is credited to the bankrupt's account on date 3 December 2020, for a total amount of 3,285 euros.

2.2. Receipt of active acquisition offers.

Based on the provisions of the Settlement Plan, offers are being received from various stakeholders in the acquisition of the asset, within the period of receipt of offers to be awarded to the best bid.

3. Other management.

By this Insolvency Administration it was learned of the existence of various deposits consigned, surplus and in favor of the bankrupt in other procedures and Courts, having asked them to proceed to the return of the aforementioned amounts, being to date pending a response from themselves. Specifically, the following returns have been requested in this period:

- 27,638.08 euros to the Court of First Instance No. 1 of Los Cristianos (Arona), in relation to Ordinary procedure 654/2012 and its related of Provisional Execution 146/2019.

- 12,001.51 euros to the Court of First Instance No. 2 of Los Cristianos (Arona), in relation to Ordinary procedure 550/2013 and its related of Provisional Execution 79/2019.

- 946.67 euros to the Court of First Instance No. 4 of Los Cristianos (Arona), in relation to Ordinary procedure 517/2017, and its related Provisional Execution 124/2019.

- 20,948.06 euros to the Court of First Instance No. 4 of Los Cristianos (Arona), in relation to Ordinary procedure 15/2017, and its related of Provisional Execution 142/2019.

In relation to these requests, 946.67 euros have been received, corresponding to the requested return corresponding to the procedure 517/2017, of the Court of First Instance No. 4 of the Christians, having received the amount on January 22, 2021 in the current account of the bankrupt.

II. Credits against the estate and insolvency paid.

The payments made by the Bankruptcy Administration are detailed in the SILVERPOINT VACATIONS, SL contest IN LIQUIDATION:

II.1) Credits against the estate.

The credits against the mass accrued and / or PAID:

A) Credits against the mass paid in concept of fees of insolvency administration.

On December 4, 2020, a payment on account of the provisional fees of the common phase, amounting to 3,529.41 euros (not including IRPF withholdings, resulting in a net transferred of 3,000.00 euros).

B) Other credits against the mass paid after the contest.

10/29/2020 TATUTRAD SL Legal texts translation € 60.00

11/26/2020 COOLBLEIBEN SC Computer analysis digital data bankrupt € 406.60

10 / 26-12 / 02 BANKINTER Commissions paid and maintenance € 28.00

TOTALS € 494.60

Summary of credits against the mass PAID.

Credits for the payment to the Bankruptcy Administrator: € 3,000.00

Credits after the declaration of insolvency: € 494.60

TOTAL CREDITS AGAINST MASS PAID: € 3,494.60

C) New credits against mass earned pending payment

01/31/2021 CANARY TAX AGENCY IGIC fourth quarter 2020: € 28.87

01/20/2021 AEAT Personal income tax withholdings fourth quarter 2020: € 529.41

TOTALS € 558.28

II.2) Bankruptcy credits paid.

No amount has been paid in relation to this type of credit.

By virtue of it,

TO THE COURT I REQUEST, that having presented this document, admit it and for having completed the obligation of information required of the Bankruptcy Administrators, in the terms indicated in Article 424 of the Law Bankruptcy.

For being of Justice that I ask in Tenerife, on February 12, 2021.