EUROFIMA was established on November 20, 1956, based on an international treaty (the “Convention”) between sovereign States. It is governed by the Convention signed by its member States, its articles of association (“Statutes”) and in a subsidiary manner by the law of the country in which it is located. It was originally founded for a period of 50 years. The decision taken by the extraordinary General Assembly on February 1, 1984, to extend this period for an additional 50 years, until 2056, was approved by all member States. EUROFIMA’s shareholders are railways of the European member States which are parties to the Convention.