Ultrapol Appoints New Director at AGM

December 9, 2012

Utrapol, active in the river, offshore supply & ocean transport business appoint Ojea Quintana to its Board of Directors.

Eduardo Ojea Quintana is currently the President of the Board of Directors of Transportadora de Gas del Norte S.A. and a member of the board of
directors of several other energy companies in South America. He has served as a member of the Argentine Chamber of Oil Companies, part of
the Argentine Institute of Oil and Gas, the Argentine Council for the Sustainable Development Companies and the Academy Center for the Energy
Regulatory Activity. He also represented Argentina on the Executive Committee for the International Gas Union.

Additionally, at the meeting the following proposals were approved and adopted: 1) the approval of the audited financial statements and the Report of the Auditors thereon for the fiscal year ended December 31, 2011, 2) the re-election of the six existing directors of the Company, 3) the ratification of acts, proceedings and transactions of directors, officers and employees of the Company and 4) the indemnification of directors, officers and employees of the Company.

Ultrapetrol serves the shipping markets for containers, grain and soya bean products,forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels.

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