1. What are cookies?

MAGALLANES VALUE INVESTORS, S.A. SGIIC’s website (hereinafter the Web) uses Cookies. Cookies are files sent to a browser through a web server to record the User’s activities on a specific website. The first purpose of Cookies is to provide the user with faster access to the selected services. In addition, Cookies personalize the services offered by the Web, providing and offering each user information that is of interest or that may be of interest, based on the use made of the Services.

The Website uses Cookies to personalize and facilitate user navigation to the fullest. Cookies are only associated with an anonymous user and his computer and do not provide references that allow the user’s personal data to be deduced. The user can configure their browser to notify and reject the installation of Cookies sent by the Web, without damaging the user’s ability to access the contents of said website. However, we note that, in any case, the website’s performance may decrease.

Registered users, who register or who have logged in, can benefit from more personalized and profile-oriented services, thanks to the combination of data stored in cookies with personal data used at the time of registration. These users expressly authorize the use of this information for the indicated purpose, without prejudice to their right to refuse or disable the use of cookies.

Likewise, the Web will be able to know all the services requested by the users, so that they can provide or offer adequate information to the tastes and preferences of each user.

2. What types of cookies are there?

Cookies, depending on their permanence, can be divided into:

Session Cookies	They expire when the user closes the browser.
Persistent cookies	They expire depending on when the objective for which they serve is fulfilled (for example, for the user to remain identified in the Services) or when they are manually deleted.

Depending on their Owner, they can be divided into:

Own cookies	Those that are sent to the user’s terminal equipment from a computer or domain managed by the editor itself and from which the service requested by the user is provided.
Third party cookies	They are those that are sent to the user’s terminal equipment from a computer or domain that is not managed by the editor, but by another entity that processes the data obtained through cookies.

Additionally, depending on their Objective, Cookies can be classified as follows:

Performance Cookies	This type of Cookie remembers your preferences for the tools found in the services, so you do not have to reconfigure the service every time you visit. As an example, this typology includes:
		Volume settings of video or sound players.
		Video transmission speeds compatible with your browser.

Geo-location Cookies

These Cookies are used to find out what country you are in when a service is requested. This Cookie is completely anonymous, and is only used to help guide the content to its location.

Registration Cookies	Registration cookies are generated once the user has registered or subsequently opened his session, and they are used to identify him within the services with the following objectives:
		Keep the user identified so that, if a service, the browser or the computer are closed, and at another time or another day, he will remain identified when re-entering, thus facilitating navigation without having to identify oneself again. This functionality can be suppressed if the user presses the “log out” functionality, so that this Cookie is deleted and the next time the user enters the service the user will have to log in to be identified.
		Check if the user is authorized to access certain services, for example, to participate in a competition.

Analytical Cookies	Each time a user visits a service, a tool from an external provider generates an analytical cookie on the user’s computer. This Cookie, that is only generated during the visit, will serve in future visits to the Web Services to identify the visitor anonymously. The main objectives pursued are:
		Allow anonymous identification of navigating users through the “Cookie” (identifying browsers and devices, not people) and therefore the approximate number of visitors and their trend over time.
		Anonymously identify the most visited and therefore more attractive contents for users.
		Knowing if the user who is accessing is new or repeats his visit.
		Important: Unless the user decides to register for a Web service, the “Cookie” will never be associated with any personal data that can identify him. These Cookies will only be used for statistical purposes that help optimize the experience of the Users on the site.

Cookies of behavioral advertising

This type of “Cookies” allows to expand the information of the advertisements shown to each anonymous user in the Web Services. Among others, the duration or display frequency of advertising positions, the interaction with them, or the navigation patterns and / or user compartments that help to shape a profile of advertising interest. In this way, they allow to offer advertising related to the interests of the user.

Third party advertising cookies

In addition to the advertising managed by the Web in its Services, the Web offers its advertisers the option of serving advertisements through third parties (“AdServers”). this way, these third parties can store Cookies sent from the Web Services from the Users’ browsers, as well as access the data stored in them.

3. What cookies do we use?

The cookies we use on our website are:

OWN COOKIE

We use a tool that installs a cookie when you accept our cookie policy in order to remember if you return to visit your acceptance. If you wish to uninstall this cookie, we indicate it below in the section Deactivating cookies. We use this cookie to remember that you have accepted the Cookies Policy.

THIRD PARTY COOKIES. GOOGLE ANALITYCS. STATISTICS.

Google Analytics is a behavior analysis tool that comes into operation when you visit our website, so that we observe usage parameters in the different pages that compose it and allows us to determine which are the uses that most interest our visitors and in this way We can improve the contents of it.

THIRD PARTY COOKIES. YOUTUBE

YouTube is a Google platform through which it establishes a number of cookies on any page that includes a YouTube video. These cookies can measure the number and behavior of YouTube users, including the information that links their visits to our website with their Google account. We use YouTube in order to view our videos on our website.

4. How to disable Cookies?

Normally it is possible to stop accepting the Cookies of the browser, or of a particular Service.

All modern browsers allow you to change the Cookies’ configuration. These settings are usually found in the “options” or “preferences” of your browser menu. You can also configure your browser or email manager, as well as install free add-ons to prevent Web Bugs from downloading when opening an email.

The Web offers guidance to the User on the steps to access the cookie configuration menu and, where appropriate, private browsing in each of the main browsers:

Internet Explorer	Tools > Options > Privacy >  Settings.
	For more information, you can consult Microsoft support or browser Help.
Microsoft Edge	Settings and more > Settings > Clear scan data.
Firefox	Tools > Options > Privacy > Web History > Custom settings.
Chrome	Settings > Advanced settings > Privacy and Security > Clear browsing data.
Safari	Preferences > Security.
	For more information, you can consult Apple support or browser Help.

5. Can modifications to the Cookies Policy occur?

The Website may modify this Cookies Policy based on legislative, regulatory requirements, or with the purpose of adapting said policy to the instructions issued by the Spanish Agency for Data Protection, therefore users are advised to visit it periodically.

When there are significant changes in this Cookies Policy, users will be notified either through the web or through email to registered users.