The creation of subsidiary companies has recently been formalized. This decision has been motivated by several aspects derived from the growth of the group.

The growth of a company generates strategic business units (UEN) of a technological, operational or strategic nature. Once the company reaches a sufficient size, the establishment of its own entity (subsidiary company) occurs. The current growth experienced by Xesol Innovation has led to the creation of two technological subsidiaries (Xesol SLAM, Xesol Biometrics) and also Xesol Innovation Inc. (USA).

Each of the three new subsidiary companies will have its own strategic plan which will be aligned with the holding company. Activities will remain immersed in a common context in which connectivity, artificial intelligence and big data continue to be key for the development of solutions for the smart mobility sector.

• Xesol Biometrics

Subsidiary company that develops biometric technology to manage vehicle usage and warns the driver in the event of tiredness, fatigue or distractions.

• Xesol SLAM

Subsidiary company formed to develop solutions based on SaaS (Software-as-a-service) and PaaS (platform-as-a-service), which generates maps in real time to warn drivers about road and traffic conditions and the best routes to travel.

• Xesol Innovation Inc.

There are several reasons that make California (USA) the perfect place to establish a subsidiary company, one of them being that it is the epicenter of autonomous driving, and Xesol Innovation wants to be there.

Change of legal form

Currently, Xesol Innovation is changing its legal form to Public Limited Company, which best adapts to the needs of large firms.

This change is mainly driven by the following factors:

• Stock market listing.
• Treasury stock transactions.
• Transferability of shares.
• Increased transparency.