<SEC-DOCUMENT>0001292814-13-002636.txt : 20131129
<SEC-HEADER>0001292814-13-002636.hdr.sgml : 20131128
<ACCEPTANCE-DATETIME>20131129063409
ACCESSION NUMBER:		0001292814-13-002636
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20130930
FILED AS OF DATE:		20131129
DATE AS OF CHANGE:		20131129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMBEV S.A.
		CENTRAL INDEX KEY:			0001565025
		STANDARD INDUSTRIAL CLASSIFICATION:	BEVERAGES [2080]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36165
		FILM NUMBER:		131249135

	BUSINESS ADDRESS:	
		STREET 1:		RUA DR. RENATO PAES DE BARROS, 1017
		STREET 2:		3 ANDAR PARTE
		CITY:			SAO PAULO
		STATE:			D5
		ZIP:			04530-000
		BUSINESS PHONE:		55(11)2122-1414

	MAIL ADDRESS:	
		STREET 1:		RUA DR. RENATO PAES DE BARROS, 1017
		STREET 2:		3 ANDAR PARTE
		CITY:			SAO PAULO
		STATE:			D5
		ZIP:			04530-000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	InBev Corporate Holdings Inc.
		DATE OF NAME CHANGE:	20121219
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ambevsaitr3q13_6k.htm
<DESCRIPTION>ITR 3Q13
<TEXT>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<P></P>

<DIV align=center>

<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of November, 2013 </B></FONT></DIV>

<P align=justify></P><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1565025</B></FONT></DIV>

<P></P>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<CENTER></CENTER>

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<P align=justify></P>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>AMBEV S.A. </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Exact name of registrant as specified in its charter) </FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center></DIV>

<P></P>

<P align=justify></P>

<P></P>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>AMBEV S.A. </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Translation of Registrant's name into English)</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<P></P>

<P align=justify></P>

<P></P>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Rua Dr. Renato Paes de Barros, 1017 - 3rd Floor <BR>04530-000 S&#227;o Paulo, SP<BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Address of principal executive office)</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<P></P>

<DIV align=center>

<P><FONT color=#000000 size=3 face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.&nbsp; </FONT></P>

<P><FONT size=3 face="Times New Roman, Times, Serif"><BR>Form 20-F ___X___ Form 40-F _______</FONT> </P>

<P align=left>&nbsp;<FONT size=3 face="Times New Roman, Times, Serif">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>&nbsp;</P><FONT size=3 face="Times New Roman, Times, Serif">Yes _______ No ___X____</FONT>

<P align=justify></P></DIV>

<P></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">AMBEV S.A. INTERIM FINANCIAL STATEMENTS</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Balance Sheets</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">As of September 30, 2013 and December 31, 2012</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">(Expressed in thousands of Brazilian Reais)</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

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<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,835,170 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,974,320 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">612,489 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">476,607 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,341,420 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,268,013 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,586,540 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,466,341 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Taxes receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">102,755 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">116,498 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assets held for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,086 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,478,374 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">16,305,865 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">242,556 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,379 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,086,933 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,855,013 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,737,679 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,428,180 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Taxes receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,843 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,316 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">25,480 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">25,480 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investments in associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">20,903 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">24,012 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,086,251 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,351,284 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,112,286 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,936,101 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,817,669 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,645,245 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">47,140,600 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">45,527,010 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">59,618,974 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">61,832,875 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"><BR>The accompanying notes are an integral part of these interim financial statements.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Balance Sheets (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">As of September 30, 2013 and December 31, 2012</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">&nbsp;(Expressed in thousands of Brazilian Reais)</FONT></P>

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<TR style="HEIGHT: 14.5pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity and Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,845,574 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,579,337 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">897,854 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">837,772 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Bank overdrafts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">927 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">123 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income tax and social contribution payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">664,396 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">972,556 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">136,029 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">137,452 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,544,780 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15,527,240 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,412,771 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,063,988 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,101,849 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,305,957 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,547,059 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,367,708 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">452,120 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">518,076 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,874,796 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,780,908 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,388,595 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,036,637 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">19,933,375 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">24,563,877 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Share capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">56,983,341 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,061 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Reserves</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">56,820,858 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">51,649 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(75,791,596)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">24,905,890 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">621,374 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity attributable to equity holders of Ambev</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">38,633,977 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">25,206,600 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-controlling interests</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,051,622 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,062,398 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="63%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total equity and liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">59,618,974 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">61,832,875 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"><BR>The accompanying notes are an integral part of these interim financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter2"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Income Statements</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the nine and three-month period ended September 30, 2013 and 2012</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">(Expressed in thousands of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT size=2></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">23,738,542 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">22,097,139 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,462,603 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,036,022 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(8,123,597)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(7,371,094)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,834,847)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,667,728)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15,614,945 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14,726,045 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,627,756 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,368,294 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Sales and marketing expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,070,969)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(5,374,761)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,999,915)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,821,806)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,103,885)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,193,677)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(352,498)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(519,477)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other operating income/(expenses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,018,498 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">559,246 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">394,301 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">251,529 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,677 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">91 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,892 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">32 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income from operations before special items</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,464,266 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,716,944 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,673,536 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,278,572 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">16</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(13,175)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(36,410)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,930)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income from operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,451,091 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,680,534 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,666,606 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,268,936 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,476,929)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,150,867)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(680,502)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(550,711)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Finance income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">473,961 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">520,160 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">185,364 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">185,188 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net finance cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,002,968)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(630,707)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(495,138)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(365,523)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,448,123 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,049,827 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,171,468 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,903,413 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">18</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,844,648)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,362,794)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(832,466)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(420,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,603,475 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,687,033 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,339,002 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,483,355 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Attributable to:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity holders of Ambev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,869,507 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,064,762 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,289,706 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,514,399 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,733,968 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,622,271 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">49,296 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">968,956 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Earnings per common share &#8211; (Basic and Diluted) (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.50 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.42 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.24 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.16 </FONT></P></TD></TR>

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<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">(i) The information related to the earnings per share calculation of 2012 were restated to reflect the effect of capital contributions, as described in note 1 (c).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">The accompanying notes are an integral part of these interim financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Statements of Comprehensive Income</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the nine and three-month period ended September 30, 2013 and 2012</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">(Expressed in thousands of Brazilian Reais)</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month year ended:</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,603,475 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,687,033 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,339,002 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,483,355 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Exchange differences on translation of foreign operations (gains/ (losses))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">323,075 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">917,663 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,589)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(13,601)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Cash flow hedges - gains / (losses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="TEXT-INDENT: 40pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Recognized in Equity (cash flow hedge)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">64,756 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">463,806 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,192)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">99,719 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="TEXT-INDENT: 40pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Removed from Equity and included in profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(134,951)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(236,168)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(62,006)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(24,627)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="TEXT-INDENT: 40pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Deferred income tax variance in Equity and other changes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">35,089 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(79,536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,391 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,034 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="TEXT-INDENT: 40pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total cash flow hedges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(35,106)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">148,102 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(25,807)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">81,126 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Actuarial gains and (losses)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">89,767 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(64,188)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,347 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(18,007)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Net income (loss) recognized directly in Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman"></FONT></B><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">377,736 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,001,577 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(27,049)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">49,518 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,981,211 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7,688,610 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,311,953 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,532,873 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Attributable to:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity holders of Ambev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,155,099 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,886,005 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,256,922 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,703,534 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,826,112 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,802,605 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">55,031 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">829,339 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">The accompanying notes are an integral part of these interim financial statements.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interim Consolidated Statements of Changes in Equity </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in thousands of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 4.55pt">

   <TD style="HEIGHT: 4.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="36%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Attributable to equity holders </FONT></B></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.2pt">

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Capital </FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Capital reserves </FONT></B></P></TD>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income reserve </FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Retained earnings</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Comprehensive Income</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Non-controlling interest</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">At January 1, 2013 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">249,061 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">51,649 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">676,497 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">977,207 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">977,207 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Effects of changes in accounting standards </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">24,229,393 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">24,229,393 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">12,062,398 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">36,291,791 </FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">At January 1, 2013 adjusted </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">249,061 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">51,649 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">24,905,890 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">25,206,600 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">12,062,398 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">37,268,998 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Net income </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,657,360 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,212,147 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,869,507 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,733,968 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,603,475 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="56%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Other comprehensive income </FONT></I></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Translation reserves - gains / (losses) </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">231,707 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">231,707 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">91,368 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">323,075 </FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Cash flow hedges - gains / (losses) </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(33,109)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(33,109)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,997)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(35,106)</FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Actuarial gain / (losses) </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">86,994 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">86,994 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,773 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">89,767 </FONT></P></TD></TR>

<TR style="HEIGHT: 4.1pt">

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,657,360 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,497,739 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,155,099 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,826,112 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,981,211 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Shares issued </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,206,879 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,201,470 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,005,409 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(16,413,758)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Stock swap merger</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">48,527,401 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">48,527,401 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">97,054,802 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(97,054,802)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Adjust transaction with minority</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(85,242,633)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(85,242,633)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">85,242,633 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Put option to acquire interest in a subsidiary </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(60,007)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(60,007)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(16,459)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(76,466)</FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Gains/(losses) of non-controlling interest&#180;s share </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(217,511)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(217,511)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(227,826)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(445,337)</FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Dividends </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(13,063)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,035,986)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,049,049)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(15,273)</FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,064,322)</FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Share-based payment </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">47,992 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">47,992 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">28,280 </FONT></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">76,272 </FONT></P></TD></TR>

<TR style="HEIGHT: 4.55pt">

   <TD style="HEIGHT: 4.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Others </FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,261,316)</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,261,316)</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(793,441)</FONT></P></TD>

   <TD style="HEIGHT: 4.55pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,054,757)</FONT></P></TD></TR>

<TR style="HEIGHT: 4.3pt">

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">At September 30, 2013 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">56,983,341 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">55,776,863 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,043,995 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">621,374 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(75,791,596)</FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">38,633,977 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,051,622 </FONT></B></P></TD>

   <TD style="HEIGHT: 4.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">39,685,599 </FONT></B></P></TD></TR>

<TR>

   <TD width="42%">&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="1%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="1%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD>

   <TD width="7%" align=right>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these interim financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter5"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interim Consolidated Statements of Changes in Equity (continued)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in thousands of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT size=2></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Attributable to equity holders </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Capital </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Capital reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Retained earnings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Comprehensive Income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Non-controlling interest</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">At January 1, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">249,061 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">40,221 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">14,083 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">496,800 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">800,165 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">800,165 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Effects of changes in accounting standards </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">22,287,926 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">22,287,926 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">9,980,087 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">32,268,013 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">At January 1, 2012 adjusted </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">249,061 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">40,221 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">14,083 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">22,784,726 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">23,088,091 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">9,980,087 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">33,068,178 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">13,081 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,051,681 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,064,762 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,622,271 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">6,687,033 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Other comprehensive income </FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Translation reserves - gains / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">769,052 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">769,052 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">148,611 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">917,663 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Cash flow hedges - gains / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">91,974 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">91,974 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">56,128 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">148,102 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Actuarial gain / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(39,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(39,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(24,405)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(64,188)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">13,081 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,872,924 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,886,005 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,802,605 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,688,610 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Put option to acquire interest in a subsidiary </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,224,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,224,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(754,082)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,978,275)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Gains/(losses) of non-controlling interest&#180;s share </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">101,435 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">101,435 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">922,773 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,024,208 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Dividends </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(48,751)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(48,751)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(48,751)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Share-based payment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">58,940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">58,940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">36,306 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">95,246 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Others </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,093,639)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,093,639)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,283,096)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(3,376,735)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">At September 30, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">249,061 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">58,940 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">40,221 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(21,587)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">24,441,253 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">24,767,888 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">11,704,593 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">36,472,481 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these interim financial statements.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>6</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim Cash Flow Statements</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the nine and three-month period ended&nbsp; September 30, 2013 and 2012</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">(Expressed in thousands of Brazilian Reais)</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

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<TR style="HEIGHT: 14.5pt">

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2 align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2 align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">6,603,475 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">6,687,033 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,339,002 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,483,355 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation, amortization and impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,572,819 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,406,431 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">534,875 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">508,551 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Impairment losses on receivables and inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">107,624 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">109,340 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">34,971 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">40,856 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Additions/(reversals) in provisions and employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">126,849 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">153,883 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">52,471 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">47,950 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,002,968 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">630,707 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">495,138 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">365,523 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Loss/(gain) on sale of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(17,135)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(3,734)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(14,566)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(10,988)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Equity-settled share-based payment expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">120,319 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">106,004 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">39,556 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">42,842 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,844,648 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,362,794 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">832,466 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">420,058 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share of result of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,677)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(91)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(3,892)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(32)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Other non-cash items included in results</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(137,923)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(151,083)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(63,696)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(42,516)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash flow from operating activities before changes in working capital and use of provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">11,217,967 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">10,301,284 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,246,325 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,855,599 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Decrease/(increase) in trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(312,173)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(421,888)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(260,315)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(581,816)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Decrease/(increase) in inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(193,834)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(190,239)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">95,213 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">64,401 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Increase/(decrease) in trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,720,980)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,327,388)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">603,314 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,024,043 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash generated from operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,990,980 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,361,769 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,684,537 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,362,227 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Interest paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(357,039)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(318,697)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(195,836)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(185,831)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Interest received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">537,811 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">402,091 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">351,136 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">53,838 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Dividends received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,081,819 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">315,817 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,861,515 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(23,685)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(2,344,282)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,491,175)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(445,971)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(571,881)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash flow from operating activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">9,909,289 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,269,805 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,255,381 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,634,668 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Proceeds from sale of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">64,779 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">39,900 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">37,590 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">28,067 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Acquisition of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(2,358,088)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,959,436)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,057,993)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(965,662)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Acquisition of subsidiaries, net of cash acquired</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(245,007)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(2,513,051)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(75,571)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(59,749)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Investment in short term debt securities and net proceeds/(acquisition) of debt securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,956)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(415,574)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(135,956)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(371,787)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net proceeds/(acquisition) of other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(16,429)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(3,459)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash flow from investing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(2,709,273)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,864,590)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,231,930)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,372,590)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Advances for future capital increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,485)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Capital increase of non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">160,344 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">199,703 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,471 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">173,367 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Proceeds/repurchase of treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(8,920)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(20,230)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Proceeds from borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">191,816 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,128,696 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(92,479)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">479,406 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Repayment of borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(729,802)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(2,907,617)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(79,952)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,588,942)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash net of finance costs other than interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(998,283)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(449,521)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(736,739)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(306,251)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Payment of finance lease liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,086)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,027)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(329)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(921)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Dividends (paid) / received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(10,107,577)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,156,847)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,912,576)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,286,160)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash flow from financing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(11,493,508)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(6,210,843)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,814,604)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(2,699,986)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net increase/(decrease) in cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,293,492)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(3,805,628)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">208,847 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(437,908)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash and cash equivalents less bank overdrafts at begin of period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,974,197 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,145,695 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,482,175 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,963,779 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Effect of exchange rate fluctuations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">153,538 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">217,530 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">143,221 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">31,726 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cash and cash equivalents less bank overdrafts at end of period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,834,243 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,557,597 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,834,243 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,557,597 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">The accompanying notes are an integral part of these interim financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Notes to the interim financial statements:</FONT></B></P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.75pt">

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   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">1</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="95%" noWrap>

   <P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Corporate information</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">2</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="95%" noWrap>

   <P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Statement of compliance</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">3</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="95%" noWrap>

   <P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Summary of significant accounting policies</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">4</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Investment securities</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">5</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Inventories</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">6</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Deferred income tax and social contribution</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">7</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Property, plant and equipment</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">8</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Goodwill</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">9</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">10</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Provisions</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">11</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Changes in equity</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">12</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="95%" noWrap>

   <P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Segment reporting</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">13</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Net sales</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">14</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Other operating income/(expenses)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">15</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Special items</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">16</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Finance cost and income</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">17</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Income tax and social contribution</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">18</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Share-based payments</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">19</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Financial instruments and risks</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">20</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Collateral and contractual commitments with suppliers, advances from customers and other</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">21</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Contingencies</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">22</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Related parties</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">23</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="times new roman">Events after the balance sheet date</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>8</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1. CORPORATE INFORMATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; &nbsp;</FONT></B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">&nbsp;</FONT><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Description of business</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev S.A. (</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">referred to as the &#8220;Company&#8221; or &#8220;Ambev S.A.&#8221;) and its subsidiaries,</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> headquartered in S&#227;o Paulo, Brazil, produces and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt and food in general, either directly or by participating in other Brazilian-domiciled companies and elsewhere in the Americas. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The direct and ultimate parent company of the </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">Company are </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">InterBrew International B.V. (&#8220;IIBV&#8221;) and Anheuser-Busch InBev S.A./N.V. (&#8220;ABI&#8221;), respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The interim financial statements, prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;)</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> were approved by the Board of Directors on October 30, 2013.</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Ambev corporate restructuring</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On December 7, 2012, Companhia de Bebidas das Am&#233;ricas &#8211; Ambev (&#8220;Ambev&#8221;), announced&nbsp; its intention, subject to shareholder approval, to execute a corporate restructuring aiming to convert Ambev&#8217;s dual-class capital structure comprised of voting common and non-voting preferred shares into a new single&#8211;class capital structure comprised exclusively of voting common shares (the &#8220;Stock Swap Merger&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The proposed corporate restructuring objectives included simplifying Ambev&#180;s corporate structure and improving its governance, increasing liquidity to the benefit of all shareholders, eliminating operational and administrative costs of the Company, and increasing flexibility to manage its capital structure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On June 17, 2013, as a preliminary step to the corporate restructuring, the parent company ABI contributed, through its subsidiaries IIBV and AmBrew S.A. (&#8220;AmBrew&#8221;), all shares of Ambev to Ambev S.A. (&#8220;Contribution of Shares&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On July 30, 2013, an Extraordinary General Meeting (&#8220;EGM&#8221;) approved the Stock Swap Merger, through which each Ambev common and preferred share, not owned by Ambev S.A., was exchanged for five new Ambev S.A. common shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">For purposes of comparison to periods prior to the June 17, 2013 Contribution of Shares , these interim financial statements present the financial positions, results of operations and cash flows of Ambev S.A. and the Ambev equity interests held by ABI subsidiaries (that were transferred to Ambev S.A. pursuant to the Contribution of Shares), reflecting the purchase accounting adjustments recognized by ABI and a non-controlling interest(minorities) , for all periods prior to </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">June 17, 2013 (Note 1(c) -&nbsp; preparation after the Contribution of Shares and a summary and description of the adjustments that were made to the Ambev S.A. financial statements).</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The organizational chart below illustrates the corporate structure modifications</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>.&nbsp;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>Stock Swap Merger</FONT></B></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">The accounting entries booked in the controlling entity pursuant to the Contribution of Shares and the Stock Swap Merger are demonstrated in the Statements of Changes in Equity for the period ended September 30, 2013, in the &#8220;Shares issued&#8221; line, and counterpart in &#8220;Investments&#8221;.</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(c)</FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Basis of presentation of Ambev S.A. accounting information before the Contribution of Shares on June 17, 2013 &#8211; Predecessor basis of accounting&nbsp; </FONT></B></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Business combinations between entities under common control are not addressed by IFRS. Therefore, in accordance with IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, paragraph 11, Management has considered the requirements and guidance of standards and interpretations for similar analogous situations. </FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">IFRS 3 &#8211; Business Combinations is the standard applicable to business combinations; however it explicitly excludes business combinations between entities under common control from its scope, and therefore cannot be applied.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">IAS 8, paragraphs 10 and 11, in the absence of guidance on the Conceptual Framework for Financial Reporting,</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>&nbsp; indicates that Management may consider recent technical positions assumed by other accounting standard-setting bodies that use a similar conceptual framework to the IASB to develop accounting pronouncements, or other accounting literature and generally </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>accepted accounting practices, to the extent these do not conflict with the sources described in IAS 8, paragraph 11.</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The &#8220;predecessor basis of accounting&#8221; is an accounting alternative applied by generally accepted accounting practices in other countries including the United States and United Kingdom (&#8220;USGAAP&#8221; and &#8220;UKGAAP&#8221;), which allow the use predecessor basis of accounting in corporate restructurings and in other transactions between entities under common control.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>Since ABI, the ultimate company of both Ambev S.A. and Ambev, held an interest in Ambev before and after the Contribution of Shares, Management elected the predecessor basis of accounting as the best accounting practice to represent the transaction.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The adoption of the predecessor basis of accounting, on a retrospective basis represents a change of accounting practice in accordance with IAS 8, paragraph 29. Therefore, its effects are being presented for all comparative periods presented.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The presentation of the accounting effects from the adoption of the Contribution of Shares in the periods prior to June 17, 2013 does not modify the corporate events through June 17, 2013. The accounting information up to this date is intended to provide financial statements users comparative information with historical accounting information as from June 17, 2013.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">The accompanying Ambev S.A. Predecessor financial statements have been prepared to reflect:</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the historical results of operations and financial position of Ambev (consolidated) and Ambev S.A. on a combined basis, adjusted to eliminate intercompany balances, transactions and unrealized gains and losses;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the effects of the initial acquisition of Ambev by ABI, which represent the ABI&#8217;s accounting basis for</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> its </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">current </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">investment </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>a non-controlling interest for the equity interest in Ambev not owned by ABI, which has been determined based on its proportionate share of identifiable net investment and net income.</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif> <BR><BR></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The Contribution of Shares is a c</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ombination of entities under common control. However, this contribution is being recognized in a consistent basis with the amounts recognized by the </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ultimate parent company or the highest level of common control where consolidated financial statements are prepared (ABI accounting basis). As such, the accompanying Ambev S.A. Predecessor financial statements include certain </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>purchase accounting</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> adjustments to reflect certain business combination adjustments recognized by ABI, the ultimate parent company, upon its business acquisition of Ambev in 2004 and subsequent additional investments.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">Following these transactions, the accounting entries upon the adoption of the predecessor basis of accounting were as below</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>:&nbsp;</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2011</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ambev's equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">28,863,744 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">25,761,101 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Contribution Shares</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">61.88%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">61.88%</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment in subsidiary amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">17,861,419 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">15,941,446 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=PT-BR color=black face="times new roman">Investimento inicial em controlada a custo de aquisi&#231;&#227;o</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=PT-BR color=#000000 face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(249,663)&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(249,663)</FONT></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derecognition of adjustment to market value of the initial share, net of income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(676,497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(496,800)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Recognition of investment in subsidiary</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">16,935,259 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">15,194,983 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Recognized goodwill amount in AB-I's consolidated financial statements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,674,495 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,360,153 </FONT></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adjust as fair value of fixed assets recorded in the financial statements of the ABI, net of income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">619,639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">732,790 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adjust ABI's base accounting</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">7,294,134 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">7,092,943 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adjustment for adoption of the accounting practice of the previous cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">24,229,393 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">22,287,926 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assigned in the Statement of Shareholders' Equity:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt 13pt"><FONT style="FONT-SIZE: 10pt" color=black face="times new roman">Held for sale securities adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(676,497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(496,800)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reflex effects of other comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(1,762,851)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt 13pt"><FONT style="FONT-SIZE: 10pt" color=black face="times new roman">Accounting adjustments for transactions between shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">26,668,741 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">22,784,726 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The counterpart of the effects of the predecessor basis of accounting was recognized in Comprehensive Income. The effects of the corporate events were recognized in Capital and Reserves, with counterparts in Comprehensive Income, at the date of the Contribution of Shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The other reserves were also adjusted to reflect the corporate events which approved the Contribution of Shares. Thus, as from June 17, 2013, there is no difference between historical accounting information and predecessor accounting information.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<a name="_bclFooter13"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>13</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_14"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader14"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The impact of the adjustments above in Ambev&#8217;s consolidated income statements are as follows:</FONT></P>

<DIV align=left>&nbsp;</DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="50%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30/09/2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30/09/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30/09/2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30/09/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ambev's net income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,506,226 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,695,004 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,280,255 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,476,892 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Shareholding after the Contribution of Shares</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">100.00%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">61.88%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">100.00%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">61.88%</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Recognition of investment in subsidiary</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,506,226 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,142,992 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,280,255 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,532,747 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Share of results of associates after the contribution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(4,248,893)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(4,248,893)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Increase in depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(68,463)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(138,350)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(35,242)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(90,560)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred income taxes on the above adjustments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">23,277 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">47,039 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">11,982 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">30,790 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adjust ABI's base accounting</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(45,186)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(91,311)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(23,260)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(59,770)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Predecessor basis of accounting adjustment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,212,147 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,051,681 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(1,991,898)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,472,977 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The predecessor basis of accounting, as well as its presentation for comparative purposes, will not affect the determination of the minimum mandatory dividend. Therefore, the Company intends to adjust the calculation basis of the minimum mandatory dividend to delete any current and future impacts on net income resulting from the adoption of this accounting practice, related to the amortization/depreciation of surplus assets or even a possible impairment of goodwill.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(d)</FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Major corporate events in 2013:</FONT></B></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>Ambev announced to the market on December 7, 2012 its proposed corporate restructuring to transition its current dual stock capital structure (common shares and preferred shares) to a new, single stock capital structure comprised exclusively of voting Common shares. Ambev S.A. will hold all shares of Ambev. </FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>On May 10, 2013, the Fiscal Council approved the proposal of the Board of Directors and recommended that the corporate restructuring proposal be submitted for approval at the EGM.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>On June 17, 2013, as a preliminary step to the corporate restructuring, the parent company ABI contributed, through its subsidiaries AmBrew and IIBV, all shares of Ambev to Ambev S.A..</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>The EGM held on July 30, 2013, approved the following items with regards to the Stock Swap Merger:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.35in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>(i) the Protocol and Justification, dated May 10, 2013, in connection with the Stock Swap Merger;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>(ii) the Stock Swap Merger, in accordance with the Protocol and Justification, based on the economic value of the Ambev&#8217;s shares, calculated pursuant to their stock exchange trading price on April 26, 2013, it being noted that, as a result of the Stock Swap Merger, the Ambev&#8217;s shareholders received five Ambev S.A. Common shares for each Ambev Common or Preferred share exchanged, and holders of ADRs representing Common or Preferred shares of Ambev, received five Ambev S.A. ADRs for each Ambev ADR exchanged; and</FONT></P>

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<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>(iii) the authorization for the subscription, by Management, of the shares to be issued by Ambev S.A. as a result of the Stock Swap Merger, as well as the execution of all other requirements necessary to implement the Stock Swap Merger.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">2. STATEMENT OF COMPLIANCE</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The interim consolidated financial statements have been prepared in accordance with IAS 34 - Interim Financial Reporting as issued by the International Accounting Standards Board (&#8220;IASB&#8221;). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The information does not meet all disclosure requirements for the presentation of full annual financial statements and thus should be read in conjunction with the consolidated financial statements prepared in accordance with international financial reporting standards (&#8220;IFRS&#8221;) for the year ended December 31, 2012. To avoid duplication disclosures which are included in the annual financial statements of Ambev and Ambev S.A., these interim financial statements as of September 30, 2013 were not subject to full filling.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The significant accounting policies applied in the preparation of these combined financial statement are described below. These policies have been consistently applied in all the periods reported.</FONT></P>

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<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Basis of preparation and measurement</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s interim financial statements have been prepared and are being presented in accordance with </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the IFRS as issued by the IASB that were effective as of September 30, 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-NZ color=windowtext face="times new roman">The </FONT><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">interim financial statements are presented in thousands of Brazilian Reais (R$), rounded to the nearest thousand indicated. Depending on the applicable IFRS requirement, the measurement basis used in preparing the interim financial statements is historical cost, net realizable value, fair value or recoverable amount. Whenever IFRS provides an option between cost of acquisition and another measurement basis (e.g., systematic re-measurement), the cost approach is applied.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on past experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for decision making </FONT>


<FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">regarding the judgments about carrying amounts of assets and liabilities that are not readily evident from other sources. Actual results may differ from these estimates.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The estimates and assumptions are reviewed on a regular basis, being recognized in the period in which is realized if affects only that period, or recorded in current and future periods if the revision affects such periods.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Management believes that the following accounting policies reflect the most critical judgments, estimates and assumptions that are important to the understanding of its results: business combinations, intangible assets, goodwill, impairment, provisions, share-based payments, employee benefits and accounting for current and deferred tax.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">The fair value of identifiable intangible assets acquired is based on an assessment of future cash flows discounted to present value. Impairment analyses of goodwill and of intangible assets with undefined useful lives are performed at least on a yearly basis, or whenever a triggering event has occurred, in order to determine whether the assets carrying amount exceeds its recoverable amount.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Management uses judgment to select a variety of methods to make assumptions about the fair value of financial instruments, including the discounted cash flow method, that are mainly based on market conditions at balance sheet date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Actuarial assumptions are established to anticipate future events and are used for calculating pension and other post-retirement benefit expenses and other liabilities. The assumptions used are estimates of interest rates, expected return on plan assets, increase in health care costs, future salary increases, turnover rates, and longevity rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company is subject to income tax&nbsp;in numerous jurisdictions. Significant judgment is required for determining global income tax provision. There are&nbsp;some transactions and calculations for which the ultimate tax determination is uncertain. Some subsidiaries are involved in tax audits and local inquiries usually in relation to prior years. In assessing the amount of any income tax provisions to be recognized in the financial statements estimates are made regarding the expected amount of these matters. Estimates of interest and penalties on tax liabilities are also recorded. Where the final outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities for the period in which such determination is made.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>16</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Basis of consolidation</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Subsidiaries</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Subsidiaries are the entities (including special purpose entities) in which the Company has control. The Company controls an entity when it is exposed to or has rights to variable returns due to its involvement with the organization and is able to affect those returns through its power over the entity. Subsidiaries are totally consolidated as from the date in which control is transferred to the Company. Consolidation is interrupted as from the date control ceases.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev S.A. uses the purchase method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interest issued by Ambev S.A.. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration agreement when applicable. Costs related to the acquisition are recognized in income, as incurred. Assets, liabilities and contingent liabilities acquired in a business combination are measured initially at their fair values at the acquisition date. Ambev S.A. recognizes the non-controlling interest in the acquiree, either at fair value or at the non-controlling interest&#8217;s proportionate share of the net assets acquired. The measurement of non-controlling interest to be recognized is determined for each acquisition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The excess of the consideration transferred (added to the amounts of any non-controlling interest in the acquire, when applicable) over the fair value of the net assets acquired is recorded as goodwill. When the consideration transferred is less than the fair value of net assets acquired, the difference is recognized directly in income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As described in Note 1, the Company adopted the predecessor basis of accounting to recognize its equity interest in Ambev, for all periods presented until June 17, 2013, the Contribution of Shares date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Associates</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Associates are those entities in which the Ambev S.A. has significant influence over the financial and operating policies but which it does not control. This is generally evidenced by ownership of between 20% and 50% of the voting rights. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Jointly-controlled entities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As from </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">January 1, 2013</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, in accordance with IFRS 11, Ambev S.A.</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> has applied the equity method in replacement of proportional consolidation in joint ventures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Joint operations continue to be proportionally consolidated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter17"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>17</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_18"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader18"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidation process</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The financial statements of Ambev S.A subsidiaries, jointly-controlled entities and associates used in its consolidated financial statements are prepared for the same reporting period as Ambev S.A., using consistent accounting policies. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Associates are accounted for using the equity method of accounting, from the date that significant influence commences until the date that significant influence ceases. When associate&#8217;s share of losses exceeds the carrying amount of its investment, the carrying amount of the investment is reduced to nil. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Unrealized gains arising from transactions with associates and jointly controlled entities are eliminated to the extent of the Ambev S.A.&#8217;s interest in the entity. Unrealized losses are eliminated in the same manner as unrealized gains, however only to the extent that there is no indication of impairment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As described in Note 1, the Company adopted the predecessor basis of accounting to recognize its equity interest in Ambev, for all periods presented until June 17, 2013, the Contribution of Shares date.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(c)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Foreign currency</FONT></B></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -76.55pt; MARGIN: 0in 46.75pt 0pt 76.55pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -76.55pt; MARGIN: 0in 46.75pt 0pt 76.55pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Foreign currency transactions</FONT></B></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -76.55pt; MARGIN: 0in 46.75pt 0pt 76.55pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the balance sheet date rate. Non-monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rate prevailing at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated at exchange rates ruling at the dates the fair value was determined. Gains and losses arising from the settlement of transactions in foreign currencies and resulting from the conversion of assets and liabilities denominated in foreign currencies are recognized in the income statement.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<a name="_bclFooter18"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>18</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_19"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader19"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The most significant exchange rates used in the preparation of the Company&#8217;s financial statements are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Closing rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Average rate</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Currency</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Denomination</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Country</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">12/31/2012</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="19%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">CAD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Canadian Dollars </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Canada</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2.1648 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2.0524 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2.0626 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1.8936 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">DOP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dominican Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Dominican Republic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0524 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0512 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0512 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0487 </FONT></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">USD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Ecuador, Denmark, Luxembourg and malt operations in Argentina and Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2.2300 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2.0435 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2.1155 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 25.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1.9003 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">GTQ</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Guatemala&#180;s Quetzal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Guatemala</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.2806 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.2586 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.2700 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.2437 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">PEN</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Peruvian Sol</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Peru</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.7994 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.8007 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.7936 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.7140 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">ARS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Argentinean Peso </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.3850 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.4156 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.4060 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.4284 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">BOB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Bolivian Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Bolivia</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.3204 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.2936 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.3040 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.2730 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">PYG</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Paraguayan Guarani</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Paraguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0005 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0005 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0005 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0004 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">UYU</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.1011 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.1053 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.1060 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0935 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">CLP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Chilean Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Chile</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0044 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0043 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0043 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">0.0039 </FONT></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(d)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Conversion of the financial statements of subsidiaries located abroad </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The items included in the financial statements of each subsidiary of the Company are measured using the currency of the primary economic environment in which the entity operates (&#8220;functional currency&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The income statement and cash flows for these subsidiaries are translated at average exchange rates for the period and the changes in equity are translated at the historical exchange rates of each transaction. The translation adjustments arising from the difference between the average exchange rates and the historical rates are recorded directly in Other comprehensive income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Transactions and balances</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The foreign exchange gains and losses related to loans and cash and cash equivalents are presented in the income statement as finance cost or finance income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Changes in fair value of securities in foreign currency which are classified as available for sale are separated as follows: (i) exchange rate changes related to the amortized cost of the security, recognized in the income statement,&nbsp; and (ii) other changes in the carrying value of the security, recognized in equity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The foreign exchange effects on non-monetary financial assets and liabilities are recognized in the income statement as part of the fair value gain or loss. The exchange rate effects on non-monetary financial assets such as investments in shares which are classified as available for sale are included in equity. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>19</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On consolidation, exchange differences arising from translation of equity in foreign operations and borrowings and other currency instruments designated as net investment hedges are recognized in &#8220;Other comprehensive income&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Functional and presentation currency</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The functional and presentation currency of the Company financial statements is the Brazilian Real.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On January 1, 2013, there were prospective changes in the functional currency of certain non-significant malting operation in accordance with paragraph 35 of IAS 21 &#8211; The Effects of Changes in Foreign Exchange Rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(e)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Business combination between entities under common control</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>Business combinations between entities under common control have not been addressed by IFRS. IFRS 3 &#8211; Business Combinations is the pronouncement that shall be applied to business combinations, however it explicitly excludes business combinations between entities under common control from its scope.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>Therefore, in accordance with IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, paragraph 11, Management has adopted an accounting practice which is consistent with USGAAP and UKGAAP, the predecessor basis of accounting.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Under the </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt>predecessor basis of accounting, when accounting for a transfer of assets or a swap of shares between entities under common control, the entity who receives the net assets or the equity interests shall initially record the assets and liabilities transferred at their book value at the transfer date. If the book values of assets and liabilities transferred are different from the historical cost of the controlling entity of the entities under common control, the financial statements of the acquirer shall reflect the assets and liabilities transferred at cost of the controlling entity of the entities under common control.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=timesnewromanpsmt></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(f)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Intangible assets</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Market assets from former distributors</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The distribution assets are acquired from former distributors when the distribution of the products of the Company is made directly, and correspond substantially to rights on contracts with the points of sale and supply of master data information to the Company of such points of sale, including financial history and purchase profile.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>20</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Brands</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When part of the consideration paid in a business combination is related to brands, these are recognized in a specific Intangible Assets account and measured at fair value at the acquisition date. Subsequently, the value of brands can be reduced in case of impairment losses (Note 3(n)). </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Internally generated expenditures for developing a brand are recognized as expenses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other intangible assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other intangible assets are stated at acquisition cost less accumulated amortization and impairment losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Subsequent expenditures</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Subsequent expenditures are capitalized only when they increase the future economic benefits of an already recognized intangible asset. All other expenditures are recognized as expenses when incurred.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Amortization</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Intangible assets with finite useful lives are amortized based on the straight-line method over their estimated useful lives. Brands are deemed intangible assets with indefinite useful lives and, therefore, are not amortized.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(g)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Goodwill&nbsp;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Goodwill arises on the acquisition of subsidiaries, associates and jointly-controlled entities.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -76.55pt; MARGIN: 0in 46.75pt 0in 76.55pt"><I><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In conformity with IFRS 3 </FONT><I><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Business Combinations</FONT></I><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, goodwill is carried at cost and is not amortized, but tested for impairment at least annually, or whenever there are indications that the cash generating unit to which the goodwill has been allocated may be impaired. Impairment losses recognized on goodwill are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">Goodwill is expressed in the functional currency of the subsidiary or jointly-controlled entity to which it relates and translated to </FONT><I><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">Reais&nbsp;</FONT></I><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman"> using the year-end exchange rate. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">Regarding associate companies, goodwill is included in the carrying amount of the investment in the associate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">Goodwill includes the effects of the predecessor basis of accounting as described in Note 1.</FONT></P>

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<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(h)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Property, plant and equipment</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. The cost includes the purchase price, borrowing cost incurred during the construction period and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax, transport and the costs of dismantling and removal and site restoration, if applicable). The cost of a self-constructed asset is determined using the same principles as for an acquired asset.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Subsequent expenditures</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing a component of such an item if it is probable that the future economic benefits embodied with the item will flow to the Company and the cost of the item can be measured reliably. All other costs are expensed as incurred.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Depreciation</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Items of property, plant and equipment, except for lands, are depreciated using the straight-line method over the estimated useful lives of the assets. Depreciation is calculated from the date the asset is available for use.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The estimated useful lives of major property, plant and equipment classes as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">Buildings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="31%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">25 years</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="69%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">Plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="31%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">15 years</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">Fixtures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="31%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">10 years</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="69%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">Fittings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="31%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">10 years</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="69%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">External use assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.75pt; PADDING-TOP: 0in" vAlign=bottom width="31%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" color=windowtext face="times new roman">2 - 5 years</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The assets residual values and useful lives are regularly reviewed. Management uses judgment to assess and ascertain the useful lives of these assets.</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Land is not depreciated since it is deemed to have an indefinite life.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Gains and losses on disposals are determined by comparing the results with the carrying amount and are recognized in Other operating income/(expenses) in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">Property, plant and equipment, and depreciation include the effects of the predecessor basis of accounting as described in Note 1.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>22</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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&nbsp; <A name="page_23"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(i)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Accounting for operating and finance leases</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Leases of property, plant and equipment where the Company assumes substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are recognized as assets and liabilities (interest-bearing loans and borrowings) at amounts equal to the lower of the fair value of the leased property and the present value of the minimum lease payments at inception of the lease. Depreciation and impairment testing for depreciable leased assets is the same as for depreciable assets that are owned by the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Lease payments are apportioned between the outstanding liability and finance charges so as to achieve a constant periodic rate of interest on the remaining balance of the liability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Leases of assets under which all the risks and rewards of ownership are substantially retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement on a straight-line basis over the term of the lease.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognized as an expense in the period in which termination takes place.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(j)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Investments&nbsp;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">All investments are accounted for at trade date.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investments in equity securities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investments in equity securities are undertakings in which the Company does not have significant influence or control. This is generally evidenced by ownership of less than 20% of the voting rights. Such investments are designated as available-for-sale financial assets which are&nbsp; initially measured at fair value unless the fair value cannot be reliably determined, in which case they are measured at cost. Subsequent changes in fair value are recognized directly in &#8220;Other comprehensive income&#8221;, except those related to impairment losses which are recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When the investment is sold, the unrealized gain or loss previously accumulated and carried directly in other comprehensive income is recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investments in debt securities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investments in debt securities classified as trading or as being available-for-sale are carried at fair value, with any resulting gain or loss recognized in the income statement or directly in Other comprehensive income, respectively. Fair value of these investments is determined based on the </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">quoted bid price at the balance sheet date. Impairment charges and foreign exchange gains and losses are recognized in the income statement. Investments in debt securities classified as held to maturity are measured at amortized cost.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>23</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In general, investments in debt securities with original maturities greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year may be classified as short-term based on management's intent and ability to withdraw them within less than one year, as well as, considering their highly liquid nature and the fact that they represent cash available to fund current operations.</FONT><FONT style="DISPLAY: none"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 11pt" lang=EN-US color=windowtext face=Arial,sans-serif> &nbsp;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other investments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other investments held by the Company are classified as available-for-sale and are carried at fair value, with any resulting gain or loss recognized directly in Other comprehensive income. Impairment charges are recognized in the income statement.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(k)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Inventories&nbsp;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Inventories are valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in assigning the cost of inventories.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct costs, gains and losses with derivative financial instruments, and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the cost for bringing inventories to sales conditions and selling costs.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(l)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Trade and other receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Trade and other receivables are carried at amortized cost less impairment losses. An estimate is made for doubtful receivables based on a review of all outstanding amounts at the balance sheet date. An impairment loss is recorded for an amount considered sufficient by management to cover probable losses upon the realization of receivables. Historically, </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">no&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> significant losses in trade receivables have been experienced.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(m)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">&nbsp;Cash and cash equivalents</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Cash and cash equivalents include all cash balances, bank deposits, and short-term highly liquid investments with a maturity up to three months with insignificant risk of changes in value,</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt; FONT-WEIGHT: normal" lang=EN-US color=windowtext face="times new roman"> being </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the balance shown net of guaranteed account balances in the statement of cash flows.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>24</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(n)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Impairment of assets</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The carrying amounts of financial assets, property, plant and equipment, goodwill and intangible assets are reviewed at each closing to determine whether there is any indication of impairment. If any such indication exists, the asset&#8217;s recoverable amount is estimated. Goodwill, intangible assets that are not yet available for use and intangibles with an indefinite life are tested for impairment annually at the business unit level (which is one level below the reportable segment) or when there is any indication of impairment. An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Calculation of recoverable amount</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Equity and Debt securities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The recoverable amount of the Company&#8217;s investments in unquoted debt securities is calculated as the present value of expected future cash flows, discounted at the debt securities original effective interest rate. For equity and quoted debt securities the recoverable amount is their fair value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Intangible assets with indefinite useful life</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Intangible assets with an indefinite useful life are tested on a fair value approach applying multiples that reflect current market transactions to indicators that drive the profitability of the asset or the royalty stream that could be obtained from licensing the intangible asset to another party in an arm&#8217;s length transaction.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other assets</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The recoverable amount of other assets is determined as the higher of their fair value less costs to sell and value in use. The recoverable amount of the cash generating units to which the goodwill and the intangible assets with indefinite useful life belong is based on a discounted free cash flow approach, using a discount rate that reflects current valuation models of the time value of money and the risks specific to the asset. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate before taxes that reflects current market assessments of the time value of money and the risks specific to the asset. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>25</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Reversal of impairment losses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Non-financial assets other than goodwill and equity investments classified as held for sale that had impairment are reviewed for possible reversal of the impairment at the date of presentation. Impairment losses on other assets are reversed if the increase in their recoverable amount is related to specific events occurring after the impairment testing. Impairment losses are reversed only to the extent that the asset&#8217;s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(o)</FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Assets held for sale</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company classifies an asset as held for sale if its residual value will be recovered principally through a sale transaction rather than through continuing use. Immediately after classification as held for sale, these assets are measured based on the lower between the carrying amount and the fair value less cost to sell. Impairment losses on initial classification as held for sale are included in the income statement. The same applies to gains and losses on subsequent re-measurement until the limit of the original carrying amount.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Assets classified as held for sale are not depreciated or amortized.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(p)</FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Present value of assets and liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Monetary long term assets and liabilities are usually inflation-indexed, and thus adjusted to present value. The present value adjustment of monetary, short-term assets and liabilities is only calculated and recorded if the adjustment is considered significant to the financial statements taken as a whole. </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">For purposes of recording and determining their relevance, the present value adjustment is calculated taking into account the contractual cash flows and interest rates applicable to the related assets and liabilities. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ICMS (Brazilian State value added tax) loans obtained in the context described in Note 3 (t) are recorded at present value since these are considered subsidized loans. </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company determined its </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">average funding costs in the debt market as the appropriate discount rate for calculating the present value adjustment in this type of transaction. Upon funding, the present value adjustment related to the consideration is calculated and recorded in Other operating income, following the treatment for subsidies. Management reviews the discount rate used annually for new subsidized loans, by considering the prospective application of the weighted average rates prevailing at the moment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Monthly, taking into account the value of the consideration, the period to maturity, the financing contract interest rate and the above mentioned discount rate, the reduction in present value adjustment is allocated to financial income, so as to bring the balance to zero by the time of settlement of each consideration.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(q)</FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Dividends and Interest on shareholder&#8217;s equity</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Dividends and Interest on </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">shareholder&#8217;s equity</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> are recorded in liabilities in the period in which they are declared, except the unpaid portion relating to the minimum statutory mandatory dividends which is recorded at the end of each fiscal year, in accordance with applicable law.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The expense related to the payments of interest on shareholder&#8217;s equity is recognized in income for Brazilian income and social contribution tax purposes, and reclassified to equity for presentation purposes in these financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(r)</FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 108%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Provisions&nbsp;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Provisions are recognized when: (i) the Company has a present legal obligation as a result of past events; (ii) it is likely that a future disbursement will be required to settle the current obligation; and (iii) a reliable estimate of the amount of the obligation can be made. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Provisions are measured at the present value of the expenditures expected to be required to settle the obligation. The increase accruals are recognized as finance expense.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Restructuring</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">A provision for restructuring is recognized when the Company has approved a detailed restructuring plan, and the restructuring has either commenced or has been announced. Costs relating to the ongoing and future activities of the Company are not provided for. The provision includes the benefit commitments in connection with early retirement and redundancy schemes.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Onerous contracts</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">A provision for onerous contracts is recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. Such provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Disputes and Litigations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">A provision for disputes and litigation is recognized when it is more likely than not that the Company will be required to make future payments as a result of past events. Such items may include but are not limited to, several claims, suits and actions filed by or against the Company relating to antitrust laws, violations of distribution and license agreements, environmental matters, employment-related disputes, claims from tax authorities, and other litigation matters.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>27</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(s)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Employee benefits</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Post-employment benefits include pensions managed in Brazil by Instituto Ambev de Previd&#234;ncia Privada &#8211; IAPP, post-employment dental benefits and post-employment medical benefits managed by Funda&#231;&#227;o Zerrenner. Usually, pension plans are funded by payments made by both the Company and its employees, taking into account the recommendations of independent actuaries. Post-employment dental benefits and post-employment medical benefits are maintained by the return on Funda&#231;&#227;o Zerrenner&#8217;s plan assets. If necessary, the Company may contribute some of its profit to the Funda&#231;&#227;o Zerrenner.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company manages defined benefit and defined contribution plans for employees of its companies located in Brazil and in its subsidiaries located in Dominican Republic, Argentina, Bolivia and Canada.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev maintains funded and unfunded plans. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Defined contribution plans</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">A defined contribution plan is a pension plan under which the Company pays fixed contributions into a fund. The Company has no legal obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees for the benefits relating to employee service in the current and prior periods.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The contributions of these plans are recognized as expense in the period they are incurred.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Defined benefit plans</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">For defined benefit plans, expenses are assessed separately for each plan using the projected credit unit method. The projected credit unit method takes into account each period of service as giving rise to an additional unit of benefit to measure each unit separately. Under this method, the cost of providing pensions is charged to the income statement during the period of service of the employee. The amounts charged to the income statement consist of current service cost, interest cost, the expected return of the plan assets, past service costs and the effect of any settlements and curtailments. The obligations of the plan recognized in the balance sheet are measured at the present value of the estimated future cash outflows using a discount rate equivalent to the government&#180;s bond rates with maturity terms similar to those of the obligation and the fair value of the plan assets. Past service costs result from the introduction of a new plan or changes to an existing plan. They are recognized immediately in the income statement. </FONT>


<FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Actuarial gains and losses consist of the effects of differences between the previous actuarial assumptions and what has actually occurred and the effects of changes in actuarial assumptions. Actuarial gains and losses are fully recognized in Other comprehensive income.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>28</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When changes in the pension plan occurs, the past service costs are immediately recognized in the income statement, unless the changes are conditioned to the employee&#8217;s continued employment, for a specific period of time (the period in which the right is acquired). In such case, the past services costs are amortized using the straight-line method during the period in which the right was acquired.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company recognizes assets (prepaid expenses) of its defined benefit plans, to the extent of the value of the economic benefit available to the Company either from refunds or reductions in future contributions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other post-employment obligations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company and its subsidiaries provide post-employment medical benefits, reimbursement of certain medication expenses and other benefits to certain retirees through Funda&#231;&#227;o Zerrenner. These benefits are not granted to new retirees. The expected costs of these benefits are recognized over the period of employment, using an accounting methodology similar to that for defined benefit plans, including actuarial gains and losses.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Bonuses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Bonuses granted to employees and managers are based on financial performance indicators. The estimated amount of the bonus is recognized as an expense in the period the bonus is earned. The bonus that is settled in shares are accounted for as share-based payments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(t)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Share-based payments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Share and share option programs allow management and other members appointed by the Board of Directors to acquire shares of the Company. The Company adopted IFRS 2 </FONT><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Share-based Payment</FONT></I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> for all award programs granted after November 7, 2002 that had not vested by January 1, 2007. The fair value of the share options is estimated at grant date, using an option pricing model that is most appropriate for the respective option. Based on the expected number of options that will be exercised, the fair value of the options granted is recognized as an expense over the vesting period with a credit to equity. When the options are exercised, equity is increased by the amount of the proceeds received. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(u)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Interest-bearing loans and borrowings </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interest-bearing loans and borrowings are recognized initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are </FONT>


<FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">stated at amortized cost with any difference between the initial and maturity amount being recognized in the income statement over the expected life of the</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">instrument on an effective interest rate basis. The Company has interest-bearing loans and borrowings covered by a hedge structure (Note 10).</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>29</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(v)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Trade and other payables</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Trade and other payables are recognized</FONT><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 15pt" lang=EN-US color=windowtext face=Arial,sans-serif> </FONT></B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">initially at fair value and subsequently at amortized cost.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(w)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman"> </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Income tax and social contribution</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Income tax and social contribution for the year comprises current tax and deferred tax. Income tax and social contribution are recognized in the income statement, unless they relate to items recognized directly in comprehensive income or other equity accounts. In these cases the tax effect is also recognized directly in equity account or comprehensive income (except interest on shareholder&#8217;s equity. See Note 3(q)). Interest on shareholder&#8217;s equity is expensed to the income statement for Income Tax and Social Contribution calculation, when declared, and is then reclassified to equity for purposes of presentation of the financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The current tax expense is the expectation of payment on the taxable income for the year, using tax rates enacted, or substantially enacted, at the balance sheet date, and any adjustment to tax payable in respect of previous years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The deferred taxes are recognized using the balance sheet method. This means that a deferred tax liability or asset is recognized for all taxable and tax deductible temporary differences between the tax and accounting basis of assets and liabilities. Under this method, a provision for deferred taxes is also calculated on the differences between the fair value of assets and liabilities acquired in a business combination and their tax basis. IAS 12 &#8211; Income Taxes prescribes that no deferred tax is recorded: (i) at the initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss; and&nbsp; (ii) on differences related to investments in subsidiaries to the extent that they are not reversed in the foreseeable future. The amount of deferred tax provided is based on the expectation of the realization or settlement of the temporary difference, using currently or substantially enacted tax rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>30</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The deferred tax asset is recognized only to the extent that it is likely that future taxable profits will be available. The deferred income tax asset is reduced to the extent that it is no longer probable that the future taxable benefit will occur.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(x)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Revenue recognition</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Revenue comprises the fair value of the amount received or receivable upon selling products or rendering services in the ordinary course of business. Revenue is presented net of taxes, returns, rebates and discounts net of elimination of sales between group companies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company recognizes revenue when the amount of revenue can be measured reliably and it is probable that economic benefits associated with the transaction will flow to the Company. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Goods sold</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In relation to the sale of goods, revenue is recognized when the significant risks and benefits inherent to the good are transferred to the buyer, and no significant uncertainties remain regarding recovery of the consideration due, the costs associated with the possible return of the products, and when there is no continuing management involvement with the goods. Revenue from the sale of goods is measured at the fair value of the consideration (price) received or receivable, net of returns, or commercial deductions and discounts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As part of its commercial policy, the Company provides unconditional discounts to its customers, which are recorded as sales deductions.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Rental and royalty revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Rental revenue is recognized under &#8220;Other operating income&#8221; on a straight-line basis over the term of the lease. Royalty revenues from companies not included in the financial statements are also recognized in &#8220;Other operating income&#8221;, on an accrual basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investment subsidy and government grants</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company has benefits from Brazilian state tax incentive programs to promote industrial development including the deferral of payment of taxes or partial reductions of the tax payable. These State programs are to promote long-term increases in employment, industrial decentralization, as well as complement and diversify the industrial states.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In the case of these States, the tax reductions and other terms are foreseen in tax law. When conditions to obtain these grants exist, they are under the Company's control. The benefits for the reduction in the payment of such taxes are recorded in the income statement, on an accrual basis at the time the Company meets its obligations under the program.</FONT></P>

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<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company does not use tax incentives granted by laws that have been declared unconstitutional by the Supreme Court.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Finance income</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Finance income consists of interest received or receivable on funds invested, dividends received, foreign exchange gains, losses on currency hedging instruments offsetting currency gains, gains on hedging instruments that are not part of a hedge accounting relationship, gains on financial assets classified as trading as well as any gains from hedge ineffectiveness.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interest income is recognized on an accrual basis unless collectability is in doubt. Dividend income is recognized in the income statement on the period that the dividend is declared.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(y)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Expenses&nbsp;</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Royalty expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Royalties paid to companies that are not part of the Company financial statements are recognized as cost of goods sold.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Finance costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Finance costs comprise interest payable on borrowings, calculated using the effective interest rate method, foreign exchange losses, gains on currency hedging instruments offsetting currency losses, results on interest rate hedging instruments, losses on hedging instruments that are not part of a hedge accounting relationship, losses on financial assets classified as trading, as well as any losses from hedge ineffectiveness. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">All interest costs incurred in connection with borrowings or financial transactions are expensed as incurred as part of finance costs, except when capitalized. The interest expense component of finance lease payments is also recognized in the income statement using the effective interest rate method.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Research and development, marketing and system development costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Research, advertising and promotional costs are expensed in the year in which these costs are incurred. System development costs are expensed in the year in which these costs are incurred, if they do not meet the criteria for capitalization.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(z)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Special items</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Special items are those that in Management&#8217;s judgment need to be disclosed separately by virtue of their size or incidence. In determining whether an event or transaction is special, Management </FONT>


<FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence, and the potential of impact on the variation of profit or loss. These items are disclosed in the income statement or separately disclosed in the notes to the financial statements. Transactions that may give rise to special items are principally restructuring activities, impairment losses, and gains or losses on disposal of assets and investments.</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>32</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(aa)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Financial assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(i) Classification</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company classifies its financial assets in the following categories: (a) at fair value through profit or loss, (b) loans and receivables, (c) available for sale and (d) held to maturity. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(a) Financial assets at fair value through profit or loss</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial assets at fair value through profit or loss are financial assets held for trading. A financial asset is classified in this category if acquired principally for the purpose of being sold in the short term. Derivatives are also categorized as held for trading unless they are designated as hedges. Assets in this category are classified as current assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b) Loans and receivables</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included in current assets, except for maturities greater than 12 months after the end of the reporting period (these are classified as non-current assets).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c) Investments held to maturity</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investments held to maturity are financial assets acquired with the intention and financial ability to hold them in the portfolio until maturity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;(d) Available-for-sale financial assets</FONT></I></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Available-for-sale financial assets are non-derivative financial assets </FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">classified in this category or not classified in any of the categories above. </FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Available-for-sale financial assets are classified as noncurrent assets, unless Management intends to dispose of the investment within 12 months of the end of the reporting period.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>33</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(ii) Recognition and measurement</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Purchases and sales of financial assets are recognized on the trade date - the date on which the Company undertakes to buy or sell the asset. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial assets measured at fair value through profit and loss are initially recognized at fair value and transaction costs are charged to the income statement. These financial assets are realized when the rights to receive cash flows from investments have expired or have been transferred, in this case, when the Company has transferred substantially all risks and benefits of ownership. Financial assets measured at fair value through profit are subsequently carried at fair value. Gains or losses arising from changes in the fair value of financial assets at fair value through profit or loss are presented in the income statement in the period in which they arise.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Loans and receivables are carried at amortized cost using the effective interest rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investments held to maturity are initially recognized at fair value plus any directly attributable transaction costs. After initial recognition, investments held to maturity are measured at amortized cost using the effective interest method, reduced by any on loss impairment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Available-for-sale financial assets are measured at fair value. Interest and inflation monetary adjustments are recognized in income, while changes in fair value are recognized in other comprehensive income, and are reclassified to income upon settlement of the instrument.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The fair values </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="cambria math">&#8203;&#8203;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">investments with public quotations </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">are based on current bid prices. If the market for a financial asset (and for unlisted securities on the stock exchange) is not active, the Company establishes fair value by using valuation techniques. These techniques include the use of recent transactions with third parties, reference to other instruments that are substantially similar, analysis of discounted cash flows and option pricing models making maximum use of information from the market and with the least possible information generated by the Company's management.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(iii) Impairment of financial assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Management assesses at the end of each reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. A financial asset or a group of financial assets is impaired and an impairment loss is recorded only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (&#8220;loss event&#8221;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>34</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(bb)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Derivative financial instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company uses derivative financial instruments in order to mitigate against risks related to foreign currency, interest rates and commodity prices. Derivative instruments that, although contracted for hedging purposes, do not meet all hedge accounting criteria are recognized at fair value in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Derivative financial instruments are recognized initially at fair value. Fair value is the amount an asset could be realized and a liability settled, between knowledgeable parties, in an arm&#8217;s length transaction. The fair value of derivative financial instruments may be obtained from quoted market prices or from pricing models that take into account current market rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Subsequent to initial recognition, derivative financial instruments are re-measured to their fair value at the balance sheet date. Depending on whether cash flow, net investment or fair value hedge accounting is applied or not, any gain or loss is either recognized directly in other comprehensive income or in the income statement. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Cash flow, net investment or fair value hedge accounting is applied to all hedges that qualify for hedge accounting when the required hedge documentation is in place and when the hedge is determined to be effective.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(i) Cash flow hedge accounting</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When a derivative financial instrument hedges the variability in cash flows of a recognized asset or liability, the foreign currency risk and the fluctuation of commodity prices associated with a highly probable forecasted transaction, the effective part of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (hedge reserve). The ineffective part of any resulting gain or loss is recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When the hedge relates to financial assets or liabilities, the cumulative gain or loss on the hedging instrument is reclassified from other comprehensive income into the income statement in the same period during which the hedged risk (hedged item) affects the income statement (e.g. when the variable interest expense is recognized). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in other comprehensive income and is reclassified in accordance with the above policy when the hedged transaction occurs. If the hedged transaction is no longer probable, the cumulative gain or loss recognized in other comprehensive income is recycled into the income statement immediately.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>35</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(ii) Net investment hedge accounting</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Net investments hedge accounting, including currency hedging items which are recorded as part of the net investment, are accounted for similarly to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in other comprehensive income, while any gains or losses relating to the ineffective portion are recognized in the income statement. On disposal of a foreign operation, the cumulative gains or losses recognized directly in other comprehensive income is transferred to the income statement (Note 20).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(iii) Fair value hedge accounting</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">When a derivative financial instrument hedges the variability in fair value of a recognized asset or liability or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the income statement. The hedged item is also stated at fair value in respect of the risk being hedged, with any gain or loss being recognized in the income statement. The Company does not apply the fair value hedge accounting when the hedge item expires, was sold or exercised.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(cc) Segment reporting</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt" lang=EN-US color=windowtext>Reportable</FONT><FONT style="FONT-FAMILY: Times New Roman"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>segments&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>are identified</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>based&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>on&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>internal reports</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>regularly&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>reviewed&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>by the</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> chief operating decision maker </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>of the Company</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>for&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>purposes of</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>evaluating the</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>performance of each</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>segment&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>and&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>allocating resources to</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext> </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>those segments</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>. </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>The appropriate segment </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext>presentation has been determined to be geographically based because the Company&#8217;s risks and rates of return are affected predominantly by its regional business areas. The Company&#8217;s management structure and internal reporting system to The Board of Directors reflect this basis. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company operates its business through three zones identified as reportable segments:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#9642; Latin America North, which includes our operations (a)&nbsp;in Brazil, where we operate two business sub units: (i)&nbsp;beer and (ii)&nbsp;carbonated soft drinks (&#8220;CSD&#8221;); and (b)&nbsp;in Hispanic Latin America Operations, excluding Latin America South (&#8220;HILA-ex&#8221;), which includes our operations in the Dominican Republic </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(which also serves the islands of the Caribbean: Saint Vincent, Dominica and Antigua)</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> and Guatemala (which also serves El Salvador and Nicaragua); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#9642; </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Latin America South, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador and Peru; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#9642; </FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;</FONT><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Canada, represented by Labatt&#8217;s operations, which includes domestic sales in Canada. </FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(dd)</FONT></B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt; FONT-WEIGHT: normal" color=windowtext face="Times New Roman"> </FONT><B><FONT style="LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Recently issued IFRS</FONT></B></H4>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</H4>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt; FONT-WEIGHT: normal" color=windowtext face="Times New Roman">IFRSs with effective application for annual periods beginning on January 1, 2013:</FONT></H4>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 10 Consolidated Financial Statements:</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Provides a single consolidation model that identifies control as the basis for consolidation for all types of entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 11 Joint Arrangements:</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Replaces the current proportionate consolidation method by the equity method on joint ventures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Joint operations continue to be proportionally consolidated.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 12 Disclosure of Interests in Other Entities:</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Combines, enhances and replaces the disclosure requirements for subsidiaries, joint arrangements, associates and unconsolidated structured entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 13 Fair Value Measurement:</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Does not establish new requirements for when fair value is required but provides a single source of guidance on how fair value is measured.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IAS 19 Employee Benefits (Revised 2011):</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The amendments, due to the revision, that caused the most significant impacts in the Company&#8217;s financial statements include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The profitability of plan assets will no longer be calculated through the concept of expected returns on assets. Expected returns are replaced by recording interest income in profit or loss, which is calculated using the discount rate used to measure the pension obligation.</FONT> </LI></UL>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Unvested past service costs can no longer be deferred and recognized over the future vesting period. Instead, all past service costs will be recognized when the Company recognizes related restructuring or termination costs. </FONT></LI></UL>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IAS 19 (Revised 2011) is effective for annual periods beginning on January 1, 2013 and requires retrospective application.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Except for IAS 19 (Revised 2011), the standards above did not have a significant impact on Ambev&#8217;s consolidated financial statements upon initial application.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>37</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</H5>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Other Standards, Interpretations and Amendments to Standards </FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The additional mandatory amendments with effective application for the financial year beginning on January 1, 2013 have not been listed because of either their non-applicability to or their immateriality to the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">4</FONT></B><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. INVESTMENT SECURITIES</FONT></B></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Current investments</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial asset at fair value through profit or loss-held for trading</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">612,489 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">291,183 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity securities available-for-sale</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">185,424 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">612,489 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">476,607 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-current investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Equity securities available-for-sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">173,121 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">187,943 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.05pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Debt held-to-maturity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.05pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">69,435 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.05pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">61,436 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">242,556 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,379 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial asset at fair value through profit or loss-held for trading</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In general, investments in debt securities with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with original maturities beyond one year may be classified as short-term based on their highly liquid nature and because such marketable securities represent the investment of cash that is available for current operations of the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Changes in fair values of financial assets at fair value through profit and loss are recorded as net finance cost in the income statement as of December, 31 2012 (Note 16). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Equity securities available-for-sale</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The amount of R$173,121 (R$187,943 at December 31, 2012) classified in non-current assets as equity securities available-for-sale in the interim financial statements at September 30, 2013 is related to the operation on October 20, 2010 pursuant to which Ambev and Cervecer&#237;a Regional S.A. (&#8220;Cervecer&#237;a Regional&#8221;) </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">combined their businesses in Venezuela, whereupon Cervecer&#237;a Regional assumed an 85% interest and </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> the remaining 15% </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">which was recorded at fair value on the purchase date and adjusted by exchange variation, net of reductions in the recoverable amount of the asset. As of September 30, the Company recorded in the income statement an impairment charge of R$30,333 against this investment, mainly as a result of the currency devaluation, registered as other financial cost (Note 16</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">), which was partially offset by </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">foreign exchange gain in the period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The investment securities are disclosed in &#8220;investing activities&#8221; in cash flow statements.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>38</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_39"></A>

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<a name="_bclHeader39"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">5. INVENTORIES </FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Finished goods </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">929,966 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">697,966 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Work in progress</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">232,130 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">204,455 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Raw material</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,039,394 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,195,153 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Consumables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,817 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">59,470 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Spare parts and other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">260,873 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">248,660 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Prepayments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">130,746 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">88,346 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(36,386)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(27,709)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,586,540 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,466,341 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Losses on inventories recognized in the income statement amounted to </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$67,378&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> as of September 30, 2013 (R$72,456 in September 30, 2012).</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">6. DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Deferred taxes for income tax and social contribution taxes are calculated on tax losses, the negative tax basis of social contributions and the temporary differences between the tax bases and the carrying amount in the financial statement of assets and liabilities. The rates of these taxes in Brazil, currently set for the determination of deferred taxes, are 25% for income tax and 9% for social contribution. For the other regions the rates are as follow:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 70%; MARGIN-LEFT: 4.65pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" vAlign=bottom width="71%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">HILA-ex (Guatemala and Dominican republic)</FONT></P></TD>

   <TD style="HEIGHT: 15pt" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">from 23% to 31%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" vAlign=bottom width="71%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">Latin America - South</FONT></P></TD>

   <TD style="HEIGHT: 15pt" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">from 14% to 35%</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt" vAlign=bottom width="71%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">Canada Operational</FONT></P></TD>

   <TD style="HEIGHT: 15.75pt" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">26% </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The amount of deferred income tax and social contribution by type of temporary difference is detailed as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="27%" colSpan=3 align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">51,802 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">51,802 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,733 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,733 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">431,417 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(4,509)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">426,908 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">294,775 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(171)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">294,604 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">136,726 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(3,563)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">133,163 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">115,053 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(609)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">114,444 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Loss carryforwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">422,271 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">422,271 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">342,298 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">342,298 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Tax credits for corporate restructuring</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">229,807 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">229,807 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">526,085 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(686)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">525,399 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">523,724 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">523,724 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,109 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(611,847)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(585,738)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">27,647 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(607,614)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(579,967)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,068 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(601,322)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(595,254)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,753 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(610,295)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(604,542)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,200 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,200 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,200 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,200 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(691,382)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(691,382)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(413,921)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(413,921)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">331,795 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">331,795 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">120,068 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(4,419)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">115,649 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">257,648 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(7,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">250,455 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">287,908 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,103)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">281,805 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest on shareholder's equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">92,549 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">92,549 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">60,424 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">60,424 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Partnership profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(142,326)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(142,326)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(291,165)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(291,165)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other items</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(58,222)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(58,222)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(79,621)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(79,621)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Gross deferred tax assets / (liabilities)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,311,670 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,121,050)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">190,620 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,074,390 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,013,918)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">60,472 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Netting by taxable entity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(573,991)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">573,991 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(646,210)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">646,210 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net deferred tax assets / (liabilities)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,737,679 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,547,059)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">190,620 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,428,180 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,367,708)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">60,472 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter39"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>39</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_40"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader40"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company only offsets the balances of deferred income tax and social contribution assets against liabilities when they are within the same entity and are expected to be realized in the same period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Tax losses and negative bases of social contribution and temporary deductible differences in Brazil, on which the deferred income tax and social contribution were calculated, have no expiry date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">At September 30, 2013 the deferred tax assets related to combined tax losses has an expected utilization as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">148,995 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">40,755 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">73,812 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">79,858 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">70,155 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">48,064 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Beyond 2016 (i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">129,309 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">173,621 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">422,271 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">342,298 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">(i) There is no expected realization that exceed the period of 10 years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Part of the tax benefit corresponding to the tax losses from previous periods and temporary differences&nbsp;of subsidiaries abroad was not recorded as an asset, as management is unable to conclude to a sufficient degree of certainty that realization is probable. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The tax losses carried forward in relation to these unrecognized deferred tax assets are equivalent to approximately R$912,907 at September 30, 2013 (R$1.1 billion&nbsp;at December 31, 2012). The total unrecognized deferred tax assets related to tax losses carried forward for subsidiaries amount to R$228,520 at September 30, 2013 (R$331,151&nbsp;at December 31, 2012) for which the expiry term is on average five years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The change in net deferred taxes recorded in the combined statement of financial position is detailed as follows:</FONT></P>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance at December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">60,472 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Recognized in Income statement</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(86,232)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Recognized in Equity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">216,380 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance at September 30, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">190,620 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>40</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_41"></A>

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<a name="_bclHeader41"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">7. PROPERTY, PLANT AND EQUIPMENT</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="55%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Land and buildings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Plant and equipment</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Fixtures and fittings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Under construction</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=middle width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=middle width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Acquisition cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,024,644 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">15,668,981 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,828,671 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,601,520 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">25,123,816 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">21,886,121 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">29,007 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">122,884 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">19,887 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(932)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">170,846 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">582,016 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Acquisitions through business combinations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,590 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,590 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">721,862 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Acquisitions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,450 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">180,506 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">47,556 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,029,402 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,264,914 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,971,471 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(30,458)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(307,133)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(240,257)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(577,848)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(941,721)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">534,768 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,085,870 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">251,399 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,977,412)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(105,375)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(97,833)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">91 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">219 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(156)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">154 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,900 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,565,502 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">16,751,327 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,907,100 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,655,168 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">26,879,097 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">25,123,816 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation and Impairment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,622,244)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,160,168)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,990,120)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(12,772,532)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(11,510,633)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Effect of movements in foreign exchange </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(17,714)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(105,190)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(13,953)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(136,857)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(378,608)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(131,742)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,022,557)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(238,322)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,392,621)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,732,110)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(48,840)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(48,840)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(56,444)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">30,088 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">268,887 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">235,459 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">534,434 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">855,795 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">242 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">14,176 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,256 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">22,674 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">46,139 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">934 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(38)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">896 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,329 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,741,370)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(10,052,758)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,998,718)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(13,792,846)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(12,772,532)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Carrying amount:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,402,400 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">6,508,813 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">838,551 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,601,520 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">12,351,284 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">12,351,284 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">September 30, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,824,132 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">6,698,569 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">908,382 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,655,168 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">13,086,251 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR></TABLE><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;</FONT></B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Acquisitions in the period refer substantially to modernization, refurbishment, the extension of production lines and construction of new plants in order to increase capacity. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Capitalizes interest on loans, which is directly attributable to the acquisition and construction of qualifying assets is mainly recognized on investments in Brazil. The interest capitalization rate used is 6<FONT style="FONT-SIZE: 12pt" face="Times New Roman">.</FONT>36% per year (11.29% in 2012). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company leases plant and equipment, and fixtures and fittings, which are accounted for as financial leases. The carrying amount of the leased assets was R$21,377 as of September 30, 2013 (R$47,772 as of December 31, 2012).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Contractual commitments to purchase property, plant and equipment amounted to&nbsp;R$195,817&nbsp;as at September 30, 2013&nbsp;(R$212,668 as at December 31, 2012).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">8. GOODWILL</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance at the end of previous period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,645,245 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">23,814,235 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">306,885 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">686,703 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Acquisitions through business combinations and non-controlling interest (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">124,246 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,144,307 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(258,707)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance at the end of period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,817,669 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,645,245 </FONT></B></P></TD></TR></TABLE><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"><BR>(i) In 2012, the change refers mainly to the acquisition of CND as already presented in the annual financial statement.</FONT></P>

<a name="_bclFooter41"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>41</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_42"></A>

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<a name="_bclHeader42"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The carrying amount of goodwill was allocated to the different cash generating units levels as follows</FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">:&nbsp;</FONT></P>

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<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Functional Currency</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">LAN:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">BRL</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,320,895 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,424,879 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dominican Republic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">DOP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,313,169 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,321,116 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">LAS:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">ARS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">969,889 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,046,781 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Bolivia</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">BOB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">788,799 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">722,831 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ecuador</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">USD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,767 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,746 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Chile</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">CLP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">38,771 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,351 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Paraguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">PYG</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">672,645 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">642,503 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Peru</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">PEN</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">44,401 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">44,479 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">UYU</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">150,593 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">156,209 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">NA:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Canada Holding</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">BRL (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">35,850 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Canada Operational</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">CAD</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,478,890 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,246,350 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="55%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,817,669 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,645,245 </FONT></B></P></TD></TR></TABLE><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"><BR>(i) The goodwill in the amount of R$14,414.448, &nbsp;relating to Canada Operations, which was recorded in Ambev&#8217;s financial statements in relation to the acquisition of the Canadian operations from ABI in 2004 was reversed as part of the purchase accounting adjustments recorded to reflect the ABI accounting basis. The Canada Operation goodwill above reflects the goodwill recorded by ABI at the time such operations had been previously acquired by the ABI group.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Annual impairment testing</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The cash-generating unit (&#8220;CGU&#8221;) to which the goodwill by expectation of future profitability (goodwill) has been allocated must be tested to check the need for reduction to the recoverable amount (impairment). The test is made comparing the book value of CGU (including the goodwill) with its recoverable value and must to be performed at least annually or always that there is indication that the CGU can be devalued. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As of September 30, 2013 the Company had not observed any indication that a cash-generating unit could be undervalued. The impairment test will be performed during the last quarter of the current year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0.25in"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">9. INTEREST-BEARING LOANS AND BORROWINGS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">This explanatory note disseminates contractual information on the position of loans and financing of the Company. The explanatory Note 19 </FONT><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">- Financial instruments and risks</FONT></I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> publishes </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">additional information with respect to exposure of the Company to the risks of interest rate and currency. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>42</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Secured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">151,306 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">65,170 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Unsecured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">729,623 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">753,819 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other unsecured loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">16,060 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,200 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial leasing</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">865 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,583 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">897,854 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">837,772 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Secured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">433,150 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">243,833 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Unsecured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,160,141 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,462,331 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Debentures and unsecured bond issues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">340,306 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">429,745 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other unsecured loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">148,565 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">151,493 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial leasing</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">19,687 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">18,555 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="70%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,101,849 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,305,957 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Contract clauses (covenants)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;During the period there were no significant changes in contract clauses of loans and borrowings contracted by the Company. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As of </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">September&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> 30, 2013 the Company was in compliance with all its contractual obligations for its loans and financings.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">10. PROVISIONS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance as of December 31, 2012</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Effect of changes in foreign exchange rates</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Provisions made</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Provisions used and reversed</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance as of September 30, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Restructuring</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-current restructuring</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,382 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">240 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,821 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(5,201)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,242 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Contingencies </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Civil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30,531 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(931)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,148 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(17,350)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">25,398 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Taxes on sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">183,643 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">101,385 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(153,713)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">131,315 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">150,868 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,959 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,876 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(8,113)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">148,590 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">180,133 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(216)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">160,733 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(167,307)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">173,343 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">105,971 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">839 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15,533 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(18,082)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">104,261 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">651,146 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,651 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">294,675 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(364,565)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">582,907 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">655,528 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,891 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">300,496 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(369,766)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">588,149 </FONT></B></P></TD></TR></TABLE><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>43</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_44"></A>

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<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1 year or less</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1-2 years</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2-5 years</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Over 5 years</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Restructuring</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-current restructuring</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,242 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,743 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">499 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Contingencies </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Civil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">25,398 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,889 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,122 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,474 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">913 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Taxes on sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">131,315 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,409 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,469 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">60,044 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,393 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">148,590 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">27,608 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,966 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">77,356 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,660 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">173,343 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">48,753 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">39,098 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">79,663 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5,829 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">104,261 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11,627 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,070 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">59,230 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,334 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">582,907 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">131,286 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">141,725 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">288,767 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">21,129 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">588,149 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">136,029 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">142,224 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">288,767 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">21,129 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The expected settlement was based on management&#8217;s best estimate at the balance sheet date.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Main lawsuits with probable likelihood of loss:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Taxes on sales </FONT></I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In Brazil, the Company and its subsidiaries are involved in several administrative and judicial proceedings related to ICMS, IPI, PIS and COFINS taxes. Such proceedings include, among others, tax offsets, credits and judicial injunctions exempting tax payment. The provisions for these taxes at September 30, 2013 are R$131,315 (R$183,643 at December 31, 2012).</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Labor</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company and its subsidiaries are involved in 4,182 thousand labor proceedings with former employees or former employees of service providers. The main issues involve overtime and related effects and respective charges. The provisions for labor contingencies at September 30, 2013 was R$173,343 (R$180,133 at December 31, 2012).</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Other lawsuits</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company is involved in several lawsuits brought by former distributors which are mainly claiming damages resulting from the termination of their contracts.</FONT></P>

<P style="MARGIN: 12pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The processes with possible probabilities are disclosed in note 21.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">11. CHANGES IN EQUITY</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(a) Capital stock</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Outstanding shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(in thousand of shares)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Common</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">At the end of the previous year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,061 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,061 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Changes during the year</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,444,537 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,693,598 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,061 </FONT></B></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

<a name="_bclFooter44"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>44</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_45"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader45"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b) Capital reserves</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Capital reserves</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share premium </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Gain on shares issued </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Others capital reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share-based payments </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Capital reserves </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At January 1, 2013 adjusted </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Shares issued </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">6,204,056 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">626,692 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">370,722 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">7,201,470 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Stock swap merger</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">48,527,401 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">48,527,401 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share-based payment </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">47,992 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">47,992 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At September 30, 2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">54,731,457 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">626,692 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">418,714 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">55,776,863 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=4 align=right>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Capital reserves</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Share premium </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Gain on shares issued </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Others capital reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Share-based payments </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Capital reserves </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At January 1, 2012 adjusted </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share-based payment </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">58,940 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">58,940 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At September 30, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">58,940 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">58,940 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;</FONT><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b.1) Share-based payment</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Different share-based payment programs and stock option plans allow the senior management acquires shares of the subsidiary Ambev. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The share-based payment reserve recorded a charge of </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$120,319 and 104,229</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> at September 30, 2013 and 2012, respectively (Note 18 &#8211; </FONT><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Share-based payment</FONT></I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">).&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(c) Net income reserve</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Net income reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Investments reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Statutory reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Fiscal incentive </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Additional dividends </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income reserve </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At January 1, 2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">4,456 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">47,193 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">51,649 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Shares issued </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">1,005,409 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">1,005,409 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Dividends </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">34,130 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">(47,193)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">(13,063)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At September 30, 2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">34,130 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">4,456 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">1,005,409 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">1,043,995 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Net income reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.9pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Investments reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Statutory reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Fiscal incentive </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Additional dividends </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income reserve </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At January 1, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">2,132 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">38,089 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">40,221 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">At September 30, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">2,132 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">38,089 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">40,221 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>45</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_46"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c.1) Investments reserve</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The investment reserve refers to the allocation of profits in order to meet the projected business growth, set out in the investment plan of the Company.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c.2) Statutory Reserve</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">From net income, 5% will be applied before any other allocation, to the statutory reserve, which&nbsp; cannot exceed 20% of capital stock. The Company is not required to supplement the statutory reserve in the year when the balance of this reserve, plus the amount of capital reserves, exceeds 30% of the capital stock. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The statutory reserve is to preserve capital resources and can only be used to offset losses or increase capital.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c.3) Tax incentives</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company participates in ICMS (VAT) tax benefit programs offered by various States in order to attract investments to their region, in the form of financing, VAT deferral or partial reductions of amounts due. These State programs aim to promote employment, regional decentralization, complementation and diversification of the State&#8217;s industrial framework. In these States, the grace and enjoyment periods, reductions and other conditions are provided by the tax legislation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Some States and Public Prosecutors have filed Direct Actions of Unconstitutionality (ADIs) in the Supreme Court to challenge the constitutionality of certain State laws imposing tax incentive programs unilaterally, without the prior approval of CONFAZ (the Council formed by all the 27 Treasury Secretariats).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">The Company does not make use of tax incentives that were declared unconstitutional by the Supreme Court.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The portion of the expected income for the period relating to tax incentives, which will be used for the net income reserve at the close of the period ended December 31, 2013, and are therefore not available as a basis for distribution of dividends, is composed of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt">
<IMG src="x13111914490716.jpg" width=624 height=86></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter46"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>46</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(c.4) Interest on shareholders&#8217; equity / Dividends</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Brazilian companies are permitted to distribute interest attributed to shareholders&#8217; equity calculated based on the long-term interest rate (TJLP), such interest being tax-deductible and, when distributed, may be considered part of the mandatory dividends.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As determined by its By-laws, the Company is required to distribute to its shareholders, as a mandatory dividend in respect of each fiscal year ending on December 31, an amount not less than 40% of its net income determined under Brazilian law, as adjusted in accordance with applicable law, unless payment of such amount would be incompatible with Ambev&#8217;s financial situation. The mandatory dividend includes amounts paid as interest on shareholder&#8217;s equity.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Events during the period of 2013:</FONT></I></P>

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<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ammount per share</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ordinary General Meeting </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">03/01/2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">03/11/2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Common</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0524</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,063 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">08/30/2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/27/2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Common</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.1300</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,035,987 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ordinary General Meeting </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">03/01/2013</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest on shareholder's equity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">03/11/2013</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Common</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0443</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11,037 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman">(i)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,060,087 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 10pt"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in fiscal year of 2012.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Events during the period of 2012:</FONT></I></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ammount per share</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Extraordinary General Meeting </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">04/05/2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">04/11/2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Common</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0522</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman">(i)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Ordinary General Meeting </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">04/30/2012</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/14/2012</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Common</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0428</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,662 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">23,662 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 10pt"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in fiscal year of 2011.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c.5) Proposed dividends and additional dividends</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The reserves for proposed dividends and additional dividends proposed are designed to segregate the dividends to be distributed during the following fiscal year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The dividends and additional dividends were initially allocated due to legal aspects based on Corporate Law.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in">&nbsp;</H5>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>47</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(d) Comprehensive income</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" lang=PT-BR color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="50%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Comprehensive Income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Fair value adjustment on available-for-sale securities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Translation reserves</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Cash flow hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Actuarial gains/ losses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Put option of a subsidiary interest</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Accounting adjustments for transactions between shareholders</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Comprehensive Income</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">At January 1, 2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">676,497 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">676,497 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Effects of changes in accounting standards </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(676,497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">240,214 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">53,798 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(831,125)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,225,738)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">26,668,741 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">24,229,393 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">At January 1, 2013 adjusted </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">240,214 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">53,798 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(831,125)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,225,738)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">26,668,741 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">24,905,890 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Net income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">2,212,147 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">2,212,147 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Other comprehensive income </FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Translation reserves - gains / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">231,707 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">231,707 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Cash flow hedges - gains / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(33,109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(33,109)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Actuarial gain / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">86,994 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">86,994 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">231,707 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(33,109)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">86,994 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">2,212,147 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">2,497,739 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Shares issued </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(16,413,758)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(16,413,758)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Adjust transaction with minority</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(85,242,633)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(85,242,633)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Put option to acquire interest in a subsidiary </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(60,007)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(60,007)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Gains/(losses) of non-controlling interest&#180;s share </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(217,511)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(217,511)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Others </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,261,316)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,261,316)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">At September 30, 2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">471,921 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">20,689 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(744,131)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,285,745)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(74,254,330)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(75,791,596)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="73%" colSpan=7>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="50%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Comprehensive Income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Fair value adjustment on available-for-sale securities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Translation reserves</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Cash flow hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Actuarial gains/ losses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Put option of a subsidiary interest</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Accounting adjustments for transactions between shareholders</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Comprehensive Income</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">At January 1, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">496,800 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">496,800 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Effects of changes in accounting standards </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(496,800)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">22,784,726 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">22,287,926 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">At January 1, 2012 adjusted </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">22,784,726 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">22,784,726 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Net income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">4,051,681 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">4,051,681 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Other comprehensive income </FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Translation reserves - gains / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">769,052 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">769,052 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Cash flow hedges - gains / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US color=#000000 face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">91,974 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">91,974 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Actuarial gain / (losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">(39,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(39,783)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">769,052 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">91,974 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">(39,783)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">4,051,681 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">4,872,924 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Put option to acquire interest in a subsidiary </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US color=#000000 face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">(1,224,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,224,193)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US face="times new roman">Gains/(losses) of non-controlling interest&#180;s share </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" lang=EN-US color=#000000 face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">101,435 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">Others </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(2,093,639)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(2,093,639)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="27%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">At September 30, 2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">769,052 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">91,974 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(39,783)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">(1,224,193)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">24,742,768 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" face="times new roman">24,441,253 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d.1) Fair value adjustment on available-for-sale securities</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt; FONT-WEIGHT: normal" color=windowtext face="Times New Roman">Ambev SA had, until the date of the Contribution of Shares, participation without significant influence on Ambev, which was classified as equity security available for sale and therefore valued at market value. As explained in note 1 (c) on the b</FONT><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt; FONT-WEIGHT: normal" color=windowtext face="Times New Roman">asis of presentation of the Ambev S.A. predecessor financial statements</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt; FONT-WEIGHT: normal" color=windowtext face="Times New Roman"> before the Contribution of Shares on June 17, 2013, the valuation of the stake in Ambev at market value was reversed to reflect the accounting basis of the predecessor cost.</FONT></H5>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt; FONT-WEIGHT: normal" color=windowtext face="Times New Roman"></FONT>&nbsp;</H5>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">&nbsp;(d.2) Translation reserves</FONT></B></H5>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</H5>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The translation reserves comprise all foreign currency exchange differences arising from the translation of the financial statements with a functional currency different from the Real.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(d.3) Cash flow hedging reserves</FONT></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The hedging reserves comprise the effective portion of the cumulative net change in the fair value of cash flow hedges to the extent the hedged risk has not yet impacted profit or loss (Note 19 - </FONT><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">).&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d.4) Actuarial gains and losses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The actuarial gains and losses include expectations with regards to the future pension plans obligations. Consequently, the results of actuarial gains and losses are recognized on a timely basis considering best estimate obtained by Management. Accordingly, the Company recognizes on a quarterly basis the results of these estimated actuarial gains and losses according to the expectations presented based on an independent actuarial report.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;(d.5) Put option of a subsidiary interest</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As part of the shareholders agreement between the Ambev and ELJ, an option to sell (&#8220;put&#8221;) and to purchase (&#8220;call&#8221;) was issued, which may result in an acquisition by Ambev of the remaining shares of CND, for a value based&nbsp; on EBITDA multiples and exercisable annually until 2019. On September 30, 2013 the put option held by ELJ is valued at approximately R$2.1 billion and the liability was recorded against equity in accordance with the IFRS 3 and categorized as &#8220;Level 3&#8221;. No value has been assigned to the call option held by Ambev. The fair value of this consideration deferred was calculated by using standard valuation techniques (present value of the principal amount and future interest rates, discounted by the market rate). The criteria used are based on market information and from reliable sources and they are revaluated on an annual basis at the same moment that the Company applies the impairment test. The changes in Level 3 are presented as Note </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">19 - </FONT><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d.6) Accounting adjustments for transactions between shareholders</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">In transactions with shareholders of the same business, even when: held among people totally independent of each other, presenting valid economic basis and reflect normal market conditions, the applicable accounting standards and understand such transactions occurring within a single accounting entity. Thus, as determined by IAS 27 &#8211; Consolidated and Separate Financial Statements, in their items 30 and 31, any difference between the amount by which the share of non-controlling interests are accounted for and the fair value of the amount paid or received shall be recognized directly in equity net income attributable to controlling. Individual Statements should reflect the situation of individual subsidiary but considering of it is linked to the concept of the economic entity as a whole, including the equity of the Company and subsidiary, therefore they must be equal. Given this, even if the transaction was carried out between parties interest free and effective disbursement in the acquisition, it is necessary to adjust the accounting individual statements equivalent to the amount of the provision of goodwill matched against the equity of the entity, and it aligns it to the consolidated financial statements. The merger of shares of the minority shareholders of the subsidiary Companhia de Bebidas das Americas, the mentioned adjustment was proceeded recognizing the counterpart provision in the amount of goodwill in this account equity.</FONT></P>

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<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>49</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">12</FONT></B><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. SEGMENT REPORTING</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 1pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Segment information is presented in geographical areas, since the risks and rates of return are affected predominantly by the fact that the Company operates in different regions. The Company's management structure and the information reported to the main decision maker are structured in a similar fashion. Ambev S.A. operates its business through three areas identified as reportable segments (Latin America - North, Latin America - South and Canada). The performance information by business units (Beer and CSD), is also used by the decision maker for the Company and is presented as additional information, even though it does not qualify as a reportable segment. Internally, the Company&#8217;s management uses performance indicators, such as normalized earnings before interest and taxes (normalized EBIT) and normalized earnings before interest, taxes, depreciation and amortization (normalized EBITDA) as measures of segment performance to make decisions about resource allocation and performance analysis. These indicators are reconciled to the profit of the segment in the tables below. Whenever used in this document, the term &#8220;normalized&#8221; refers to performance measures (EBITDA, EBIT, Profit, EPS) before special items adjustments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The information is presented in thousands of Brazilian Reais, except for volumes, which are presented in thousands of hectoliters</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">As from January 1, 2013, the Company transferred management responsibility for Ecuador and Peru to the Latin America South Zone.&nbsp; These countries were previously reported within the Latin America North Zone. The 2012 Latin America South and Latin America North information have been adjusted for comparative purposes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(a) Reportable segments - For the nine-month periods ended:</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Latin America - north (i)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Latin America - south</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Canada</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Consolidated</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">83,686 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">86,219 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">25,540 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">26,749 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,954 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,171 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">116,181 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">120,139 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">15,844,671 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">14,973,126 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,709,895 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,124,575 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,183,976 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,999,438 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">23,738,542 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">22,097,139 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(5,324,332)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(4,837,503)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,877,304)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,690,567)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(921,961)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(843,024)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(8,123,597)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(7,371,094)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,520,339 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,135,623 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,832,591 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,434,008 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,262,015 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,156,414 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">15,614,945 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">14,726,045 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(4,100,894)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(3,570,242)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,014,526)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(879,932)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(955,549)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(924,587)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(6,070,969)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(5,374,761)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(809,549)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(930,904)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(183,783)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(158,264)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(110,553)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(104,509)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,103,885)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,193,677)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,033,709 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">558,381 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(20,585)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(4,381)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,374 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,246 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,018,498 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">559,246 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,454 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,223 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">91 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,677 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">91 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,648,059 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,192,858 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,613,697 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,391,431 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,202,510 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,132,655 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">9,464,266 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,716,944 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(3,185)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(36,410)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(4,444)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(5,546)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(13,175)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(36,410)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,644,874 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,156,448 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,609,253 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,391,431 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,196,964 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,132,655 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">9,451,091 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,680,534 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(737,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(535,423)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(275,943)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(48,595)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,236 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(46,689)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,002,968)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(630,707)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,907,613 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,621,025 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,333,310 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,342,836 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,207,200 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,085,966 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,448,123 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,049,827 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(851,056)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(620,860)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(637,094)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(390,613)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(356,498)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(351,321)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,844,648)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,362,794)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,056,557 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,000,165 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">696,216 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">952,223 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">850,702 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">734,645 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,603,475 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,687,033 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,803,945 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,238,645 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,916,371 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,652,623 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,316,771 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,232,095 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">11,037,087 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,123,363 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(3,185)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(36,410)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(4,444)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(5,546)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(13,175)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(36,410)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,155,886)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,045,787)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(302,674)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(261,192)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(114,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(99,440)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,572,821)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,406,419)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(737,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(535,423)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(275,943)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(48,595)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,236 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(46,689)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,002,968)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(630,707)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(851,056)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(620,860)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(637,094)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(390,613)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(356,498)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(351,321)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,844,648)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,362,794)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,056,557 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,000,165 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">696,216 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">952,223 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">850,702 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">734,645 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,603,475 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6,687,033 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">49.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">48.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">40.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">40.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">41.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">41.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">46.5%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">45.8%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Acquisition of property, plant and equipment</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,911,790 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,593,577 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">358,843 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">352,883 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">125,775 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">77,446 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,396,408 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,023,906 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Additions to / (reversals of) provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">178,297 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">192,152 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,004 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,388 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,094 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">12,337 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">183,395 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">207,877 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Full time employee - Average</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">37,355 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">36,203 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,194 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,341 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,866 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,893 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">52,415 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">51,437 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Segment assets </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">20,543,371 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">19,159,354 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,189,259 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7,609,711 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">17,414,825 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">17,301,943 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">45,147,455 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">44,071,008 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Intersegment elimination </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,700,211)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,884,566)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Non-segmented assets </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">16,171,730 </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">19,646,433 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Total assets </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">59,618,974 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">61,832,875 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Segment liabilities </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,764,673 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">14,651,098 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,877,911 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,642,076 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,600,841 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,490,474 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">16,243,425 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">20,783,648 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Intersegment elimination </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,700,211)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,884,566)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Non-segmented liabilities </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">45,075,760 </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">42,933,793 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">59,618,974 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">61,832,875 </FONT></B></P></TD></TR></TABLE><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face=Arial,sans-serif></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"><BR>&nbsp;(i) Latin America &#8211; North: includes operations in Brazil and HILA-ex (Guatemala and Dominican Republic). </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(ii) Latin America &#8211; South: includes operations in Argentina, Bolivia, Chile, Paraguay, Uruguay, Ecuador and Peru. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>51</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b) Additional information &#8211; by Business unit - For the nine-month periods ended:</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="HEIGHT: 15.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.25pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Latin America - north</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Beer</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">61,571 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">63,622 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">22,115 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">22,597 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">83,686 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">86,219 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">13,131,662 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">12,488,553 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">2,713,009 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">2,484,573 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">15,844,671 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">14,973,126 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(4,008,082)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,746,042)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,316,250)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,091,461)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(5,324,332)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(4,837,503)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">9,123,580 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">8,742,511 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,396,759 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,393,112 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">10,520,339 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">10,135,623 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,513,712)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,056,654)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(587,182)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(513,588)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(4,100,894)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,570,242)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(729,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(825,873)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(80,288)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(105,031)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(809,549)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(930,904)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">822,643 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">399,409 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">211,066 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">158,972 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,033,709 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">558,381 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,707,704 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,259,393 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">940,355 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">933,465 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,648,059 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,192,858 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(2,333)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(34,665)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(852)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,745)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,185)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(36,410)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,705,371 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,224,728 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">939,503 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">931,720 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,644,874 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,156,448 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(737,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(535,423)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(737,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(535,423)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,968,110 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,689,305 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">939,503 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">931,720 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,907,613 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,621,025 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(851,056)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(620,860)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(851,056)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(620,860)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,117,054 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,068,445 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">939,503 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">931,720 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,056,557 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,000,165 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,657,368 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,117,848 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,146,577 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,120,800 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">7,803,945 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">7,238,648 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(2,333)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(34,665)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(852)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,745)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,185)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(36,410)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(949,664)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(858,455)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(206,222)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(187,335)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,155,886)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,045,790)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(737,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(535,423)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(737,261)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(535,423)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(851,056)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(620,860)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(851,056)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(620,860)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,117,054 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,068,445 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">939,503 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">931,720 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,056,557 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,000,165 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">50.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">49.0%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">42.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">45.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">49.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">48.3%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="HEIGHT: 15.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.25pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Brazil</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Beer</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">58,328 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">61,191 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">21,154 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">21,673 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">79,482 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">82,864 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">12,395,432 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">12,027,350 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">2,483,339 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">2,351,053 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">14,878,771 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">14,378,403 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,737,824)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,515,269)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,132,580)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,017,150)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(4,870,404)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(4,532,419)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">8,657,608 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">8,512,081 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,350,759 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,333,903 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">10,008,367 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">9,845,984 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,323,433)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(2,923,994)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(527,954)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(467,107)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,851,387)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(3,391,101)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(668,259)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(770,781)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(59,039)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(83,408)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(727,298)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(854,189)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">821,367 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">398,637 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">202,571 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">158,566 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,023,938 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">557,203 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,454 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,454 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,491,737 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,215,943 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">966,337 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">941,954 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,458,074 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,157,897 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(19,079)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(19,079)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,491,737 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,196,864 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">966,337 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">941,954 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,458,074 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,138,818 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(724,095)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(508,930)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(724,095)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(508,930)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,767,642 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,687,934 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">966,337 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">941,954 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,733,979 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,629,888 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(810,866)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(597,608)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(810,866)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(597,608)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">3,956,776 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,090,326 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">966,337 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">941,954 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,923,113 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,032,280 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,360,388 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">6,022,469 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,146,381 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">1,110,485 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">7,506,769 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">7,132,954 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(19,079)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(19,079)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(868,651)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(806,526)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(180,044)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(168,531)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(1,048,695)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(975,057)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(724,095)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(508,930)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(724,095)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(508,930)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(810,866)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(597,608)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(810,866)</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(597,608)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">3,956,776 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,090,326 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">966,337 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">941,954 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">4,923,113 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">5,032,280 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">51.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">50.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">46.2%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">47.2%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">50.4%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">49.6%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">HILA-ex</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">3,243 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,431 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">961 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">924 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">4,204 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">3,355 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">736,230 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">461,203 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">229,670 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">133,520 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">965,900 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">594,723 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(270,258)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(230,773)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(183,670)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(74,311)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(453,928)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(305,084)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">465,972 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">230,430 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">46,000 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">59,209 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">511,972 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">289,639 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(190,279)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(132,660)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(59,228)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(46,481)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(249,507)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(179,141)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(61,002)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(55,092)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(21,249)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(21,623)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(82,251)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(76,715)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(12,294)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">772 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">8,495 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">406 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(3,799)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,178 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">202,397 &nbsp;</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">43,450 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(25,982)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(8,489)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">176,415 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">34,961 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(2,333)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(15,586)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(852)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,745)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(3,185)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(17,331)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">200,064 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">27,864 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,834)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(10,234)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">173,230 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">17,630 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,166)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,493)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,166)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,493)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">186,898 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,371 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,834)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(10,234)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">160,064 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(8,863)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(40,190)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(23,252)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(40,190)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(23,252)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">146,708 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(21,881)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,834)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(10,234)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">119,874 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(32,115)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">283,414 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">95,379 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">196 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">10,315 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">283,610 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">105,694 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(2,333)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(15,586)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(852)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,745)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(3,185)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(17,331)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(81,017)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(51,929)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,178)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(18,804)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(107,195)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(70,733)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,166)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,493)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,166)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,493)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(40,190)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(23,252)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(40,190)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(23,252)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">146,708 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(21,881)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(26,834)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(10,234)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">119,874 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(32,115)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">38.5%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">20.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">0.1%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">7.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">29.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">17.8%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Latin America - south</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Soft drink </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">15,019 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">15,695 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">10,521 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">11,054 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">25,540 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">26,749 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">3,392,722 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,898,007 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,317,173 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,226,568 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">4,709,895 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">4,124,575 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,081,608)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(930,286)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(795,696)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(760,281)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,877,304)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,690,567)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,311,114 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,967,721 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">521,477 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">466,287 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,832,591 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,434,008 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(665,974)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(564,715)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(348,552)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(315,217)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,014,526)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(879,932)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(138,317)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(121,097)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(45,466)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(37,167)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(183,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(158,264)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,932)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(7,817)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(6,653)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">3,436 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(20,585)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(4,381)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,492,891 &nbsp;</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,274,092 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">120,806 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">117,339 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,613,697 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,391,431 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(4,444)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(4,444)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,488,447 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,274,092 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">120,806 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">117,339 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,609,253 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,391,431 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(262,423)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(47,795)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,520)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(800)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(275,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(48,595)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,226,024 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,226,297 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">107,286 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">116,539 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,333,310 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,342,836 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(635,699)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(389,118)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,495)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(637,094)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(390,613)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">590,325 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">837,179 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">105,891 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">115,044 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">696,216 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">952,223 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,731,796 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,474,108 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">184,575 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">178,515 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,916,371 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,652,623 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(4,444)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(4,444)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(238,905)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(200,016)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(63,769)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(61,176)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(302,674)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(261,192)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(262,423)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(47,795)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(13,520)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(800)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(275,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(48,595)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(635,699)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(389,118)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,395)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1,495)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(637,094)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(390,613)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">590,325 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">837,179 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">105,891 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">115,044 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">696,216 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">952,223 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">51.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">50.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">14.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">14.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">40.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">40.1%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>&nbsp;</DIV></DIV></FONT></DIV>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>53</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_54"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=left><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face=Arial,sans-serif>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" colSpan=7 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Canada</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Beer &nbsp;</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Beer </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Total</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">6,954 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">6,954 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">7,171 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">7,171 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">3,183,976 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">3,183,976 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,999,438 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,999,438 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(921,961)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(921,961)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(843,024)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(843,024)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,262,015 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,262,015 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,156,414 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">2,156,414 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(955,549)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(955,549)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(924,587)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(924,587)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(110,553)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(110,553)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(104,509)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(104,509)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">5,374 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">5,374 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">5,246 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">5,246 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,223 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,223 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">91 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">91 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,202,510 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,202,510 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,132,655 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,132,655 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,196,964 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,196,964 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,132,655 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,132,655 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">10,236 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">10,236 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(46,689)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(46,689)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,207,200 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,207,200 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,085,966 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,085,966 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(356,498)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(356,498)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(351,321)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(351,321)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">850,702 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">850,702 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">734,645 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">734,645 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,316,771 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,316,771 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,232,095 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">1,232,095 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(114,261)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(114,261)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(99,440)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(99,440)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">10,236 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">10,236 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(46,689)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(46,689)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(356,498)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(356,498)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(351,321)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(351,321)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">850,702 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">850,702 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">734,645 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">734,645 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">41.3%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">41.3%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">41.1%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">41.1%</FONT></B></P></TD></TR></TABLE></FONT></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Volume information unaudited.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c) Reportable segments - Three-month period ended:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Latin America - north (i)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Latin America - south</FONT></B></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="17%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Canada</FONT></B></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="17%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Consolidated</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">28,494 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">29,673 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,167 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,193 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,604 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,664 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">39,265 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">40,530 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,586,370 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,447,293 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,627,147 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,418,580 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,249,086 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,170,149 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,462,603 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,036,022 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,820,744)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,755,994)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(656,002)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(579,506)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(358,101)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(332,228)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,834,847)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(2,667,728)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,765,626 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,691,299 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">971,145 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">839,074 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">890,985 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">837,921 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,627,756 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,368,294 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,324,052)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,194,871)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(343,443)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(315,400)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(332,420)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(311,535)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,999,915)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,821,806)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(261,860)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(425,492)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(64,082)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(62,286)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(26,556)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(31,699)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(352,498)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(519,477)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">389,292 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">242,313 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(520)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8,532 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5,529 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">684 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">394,301 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">251,529 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,486 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">406 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">31 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,892 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">32 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,572,492 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,313,250 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">563,100 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">469,920 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">537,944 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">495,402 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,673,536 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,278,572 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,022)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(9,636)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(362)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(5,546)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(6,930)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,571,470 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,303,614 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">562,738 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">469,920 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">532,398 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">495,402 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,666,606 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,268,936 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(248,918)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(294,552)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(246,859)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(54,559)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">639 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(16,412)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(495,138)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(365,523)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,322,552 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,009,062 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">315,879 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">415,361 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">533,037 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">478,990 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,171,468 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,903,413 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(356,116)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(149,506)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(306,125)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(132,960)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(170,225)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(137,592)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(832,466)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(420,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,966,436 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,859,556 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">9,754 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">282,401 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">362,812 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">341,398 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,339,002 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1.5pt solid; HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,483,355 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,951,211 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,694,012 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">674,837 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">559,311 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">582,369 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">533,791 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,208,417 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,787,114 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(1,022)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(9,636)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(362)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(5,546)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(6,930)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(378,719)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(380,762)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(111,737)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(89,391)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(44,425)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(38,389)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(534,881)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(508,542)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(248,918)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(294,552)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(246,859)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(54,559)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">639 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(16,412)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(495,138)</FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(365,523)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="HEIGHT: 11.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(356,116)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(149,506)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(306,125)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(132,960)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(170,225)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(137,592)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(832,466)</FONT></P></TD>

   <TD style="HEIGHT: 11.45pt; BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">(420,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,966,436 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,859,556 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">9,754 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">282,401 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">362,812 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">341,398 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,339,002 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2,483,355 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">52.8%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">49.5%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">41.5%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">39.4%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">46.6%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">45.6%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">49.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">47.1%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Acquisition of property, plant and equipment</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">850,860 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">788,167 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">172,997 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">166,434 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">41,001 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">34,205 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,064,858 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">988,806 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Additions to / (reversals of) provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">68,208 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">77,309 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">496 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1,424 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3,094 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">635 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">71,798 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">79,368 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="times new roman">Full time employee</FONT></B></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">37,355 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">36,203 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,194 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10,341 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,866 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4,893 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">52,415 </FONT></P></TD>

   <TD style="HEIGHT: 0.15in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">51,437 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<a name="_bclFooter54"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>54</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_55"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader55"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d) Additional information &#8211; by business unit &#8211; Three-month period ended:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Latin America - north</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">20,841 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">21,854 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,653 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,819 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">28,494 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">29,673 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,619,152 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,537,715 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">967,218 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">909,578 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,586,370 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,447,293 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,375,850)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,373,767)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(444,894)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(382,227)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,820,744)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,755,994)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,243,302 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,163,948 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">522,324 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">527,351 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,765,626 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,691,299 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,153,581)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,019,507)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,471)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(175,364)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,324,052)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,194,871)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(233,466)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(368,601)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(28,394)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(54,304)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(261,860)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(422,905)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">301,598 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">157,560 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">87,694 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">84,754 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">389,292 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">242,313 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,161,339 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,933,401 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">411,153 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">382,437 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,572,492 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,315,837 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(730)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(8,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,241)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,022)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,160,609 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,925,006 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">410,861 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">381,196 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,571,470 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,306,201 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(248,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(294,552)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(248,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(294,552)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,911,691 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,630,454 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">410,861 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">381,196 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,322,552 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,011,649 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(356,116)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(149,506)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(356,116)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(149,506)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,555,575 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,480,948 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">410,861 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">381,196 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,966,436 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,862,143 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,474,082 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,248,802 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">477,129 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">447,798 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,951,211 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,696,599 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(730)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(8,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,241)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,022)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(312,743)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(315,401)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(65,976)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(65,361)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(378,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(380,762)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(248,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(294,552)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(248,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(294,552)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(356,116)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(149,506)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(356,116)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(149,506)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,555,575 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,480,948 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">410,861 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">381,196 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,966,436 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,862,143 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">53.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">49.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">49.3%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">49.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">52.8%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">49.5%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Brazil</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">19,635 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">20,660 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,272 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">7,423 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">26,907 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">28,083 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,331,885 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,299,281 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">876,576 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">831,882 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,208,461 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,131,163 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,267,427)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,257,658)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(375,711)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(348,640)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,643,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,606,298)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,064,458 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,041,623 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">500,865 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">483,242 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,565,323 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,524,865 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,092,865)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(966,073)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(151,219)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(157,710)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,244,084)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,123,783)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(206,214)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(332,904)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(19,050)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(42,205)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(225,264)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(375,109)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">305,569 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">158,079 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">85,233 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">84,439 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">390,802 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">242,518 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,074,434 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,900,726 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">415,829 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">367,766 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,490,263 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,268,492 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,074,434 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,900,726 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">415,829 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">367,766 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,490,263 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,268,492 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(247,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(285,264)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(247,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(285,264)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,827,434 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,615,462 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">415,829 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">367,766 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,243,263 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,983,228 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(346,621)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(128,033)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(346,621)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(128,033)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,480,813 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,487,429 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">415,829 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">367,766 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,896,642 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,855,195 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,356,682 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,187,262 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">472,682 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">424,513 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,829,364 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,611,775 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(282,248)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(286,536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(56,853)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(56,747)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(339,101)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(343,283)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(247,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(285,264)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(247,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(285,264)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(346,621)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(128,033)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(346,621)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(128,033)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,480,813 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,487,429 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">415,829 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">367,766 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,896,642 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,855,195 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">54.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">50.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">53.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">51.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">54.3%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">50.9%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">HILA-ex</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,206 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,194 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">381 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">396 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,587 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,590 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">287,267 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">238,434 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">90,642 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">77,696 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">377,909 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">316,130 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(108,423)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(116,109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(69,183)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(33,587)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(177,606)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(149,696)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">178,844 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">122,325 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">21,459 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">44,109 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">200,303 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">166,434 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(60,716)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(53,434)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(19,252)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(17,654)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(79,968)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(71,088)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(27,252)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(38,284)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,344)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(12,099)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(36,596)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(50,383)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(3,971)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(520)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,461 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">315 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,510)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(205)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">86,905 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">30,087 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,676)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">14,671 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">82,229 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">44,758 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(730)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(8,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,241)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,022)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">86,175 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">21,692 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,968)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">13,430 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">81,207 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">35,122 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,288)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,288)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">84,257 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">12,404 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,968)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">13,430 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">79,289 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">25,834 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,495)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(21,473)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,495)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(21,473)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">74,762 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,069)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,968)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">13,430 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">69,794 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,361 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">117,400 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">58,952 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,447 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">23,285 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">121,847 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">82,237 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(730)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(8,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,241)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,022)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(30,495)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(28,865)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,123)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(8,614)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(39,618)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(37,479)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,288)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,288)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,495)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(21,473)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,495)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(21,473)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">74,762 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(9,069)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(4,968)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">13,430 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">69,794 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,361 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">40.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">24.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">30.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">32.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">26.0%</FONT></B></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;</FONT></DIV>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Latin America - south</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2013 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">09/30/2012 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,757 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">4,854 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,410 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">3,339 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,167 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,193 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,171,411 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,008,084 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">455,736 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">410,496 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,627,147 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,418,580 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(382,795)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(330,839)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(273,207)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(248,667)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(656,002)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(579,506)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">788,616 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">677,245 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">182,529 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">161,829 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">971,145 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">839,074 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(225,041)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(200,046)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(118,402)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(115,354)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(343,443)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(315,400)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(49,374)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(47,686)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(14,708)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(14,600)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(64,082)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(62,286)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,969 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">6,747 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(3,489)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,785 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(520)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">8,532 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">517,170 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">436,260 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">45,930 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">33,660 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">563,100 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">469,920 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(362)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(362)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">516,808 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">436,260 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">45,930 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">33,660 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">562,738 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">469,920 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(241,191)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(53,122)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,668)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,437)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(246,859)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(54,559)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">275,617 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">383,138 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">40,262 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">32,223 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">315,879 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">415,361 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(305,730)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(132,424)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(306,125)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(132,960)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(30,113)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">250,714 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">39,867 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">31,687 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">9,754 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">282,401 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">608,656 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">505,733 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">66,181 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">53,578 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">674,837 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">559,311 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(362)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(362)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(91,486)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(69,473)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(20,251)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(19,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(111,737)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(89,391)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(241,191)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(53,122)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,668)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(1,437)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(246,859)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(54,559)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(305,730)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(132,424)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(395)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(536)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(306,125)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(132,960)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(30,113)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">250,714 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">39,867 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">31,687 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">9,754 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">282,401 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">52.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">50.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">14.5%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">13.1%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">41.5%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">39.4%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>56</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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&nbsp; <A name="page_57"></A>

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<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">Canada</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=#000000 face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(Expressed in thousand of Brazilian Reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Beer </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Beer </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Volume </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,604 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,604 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,664 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">2,664 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,249,086 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,249,086 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,170,149 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">1,170,149 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(358,101)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(358,101)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(332,228)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(332,228)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">890,985 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">890,985 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">837,921 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">837,921 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(332,420)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(332,420)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(311,535)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(311,535)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(26,556)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(26,556)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(31,699)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(31,699)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,529 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">5,529 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">684 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">684 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">406 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">406 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">31 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">31 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized income from operations (normalized EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">537,944 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">537,944 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">495,402 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">495,402 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">532,398 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">532,398 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">495,402 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">495,402 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(16,412)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(16,412)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">533,037 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">533,037 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">478,990 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">478,990 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,225)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,225)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(137,592)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(137,592)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">362,812 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">362,812 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">341,398 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; BORDER-TOP: windowtext 1.5pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">341,398 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">582,369 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">582,369 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">533,791 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">533,791 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Special items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(5,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation, amortization and impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(44,425)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(44,425)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(38,389)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(38,389)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(16,412)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(16,412)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,225)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(170,225)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(137,593)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 11.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">(137,592)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">362,812 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">362,812 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">341,398 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">341,398 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.15in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">46.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">46.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">45.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 0.15in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face="times new roman">45.6%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">13. NET SALES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The reconciliation of gross sales to net sales is as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="38%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="30%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="30%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="38%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Gross sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">47,175,997 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">43,602,546 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">16,949,466 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15,767,260 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deductions from gross revenue</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(23,437,455)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(21,505,407)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(8,486,863)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(7,731,238)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="38%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">23,738,542 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">22,097,139 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,462,603 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,036,022 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The deductions of the gross revenue are represented by the taxes and rebates. Services provided by distributors, such as the promotion of our brands, logistics services and strategic location in stores are not considered as reduction in revenue when separately identifiable.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">14. </FONT></B><B><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman(w1)">OTHER OPERATING INCOME / (EXPENSES)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Government grants/NPV of long term fiscal incentives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">804,818 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">476,234 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">251,031 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">209,559 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(Additions to )/reversal of provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(16,960)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(24,633)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(15,650)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(12,842)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net gain on disposal of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,135 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,984 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14,566 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,988 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net rental income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,677 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,904 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">876 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">693 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net other operating income</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">210,828 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">98,757 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">143,478 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">43,131 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,018,498 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">559,246 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">394,301 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">251,529 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Government grants are related to ICMS (Brazilian State value added) tax incentives.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>57</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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&nbsp; <A name="page_58"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">During the period of 2013 the Company reassessed the discount rate used to measure the financial subsidy in government loans in accordance with their cost of external funding.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">15.&nbsp; SPECIAL ITEMS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Special items are those that in management&#8217;s judgment need to be disclosed by virtue of their size or nature. In determining whether an event or transaction classifies as special, management considers quantitative and qualitative factors such as the frequency or predictability of the occurrence, and the potential for impacting the variation in profit or loss. These items are disclosed in the combined income statement or separately in the notes to the financial statements. Transactions which may give rise to special items are principally restructuring activities, impairments, and gains or losses on disposal of assets and investments. The Company considers these items are naturally significant and accordingly, has excluded these when measuring segment-based performance, as per Note 12 -</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> Segment reporting</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.&nbsp;</FONT><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The special items included in the income statement are detailed below:</FONT></P>

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<TR style="HEIGHT: 14.5pt">

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Restructuring</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(13,175)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(17,331)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,930)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(9,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Acquisition of subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(15,829)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(3,250)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(13,175)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(36,410)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,930)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(9,636)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The restructuring expenses recognized relate to realignment of structure and processes in the Latin America &#8211; South geographical segment.</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> In 2012, expenses </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">with acquisition of subsidiaries involve expenses incurred in the acquisition of Cervecer&#237;a Nacional Dominicana.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>58</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">16. FINANCE COST AND INCOME</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Finance costs</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(433,393)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(343,110)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(152,661)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(144,113)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Capitalized borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">47,723 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">64,490 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">16,474 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">23,142 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net Interest on Pension Plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(65,717)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(62,724)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(22,902)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(22,573)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Losses on derivatives not considered as hedge accounting</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(368,846)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(396,337)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(136,254)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(226,827)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Hedge ineffectiveness losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(11,677)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,052)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest on tax contingencies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(92,425)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(85,447)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(36,292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(40,303)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest and foreign exchange rate on loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(92,451)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(92,451)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Exchange variation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(338,903)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(55,186)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(281,055)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,336 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Tax on financial transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(65,442)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(89,527)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(23,026)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(14,477)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Bank guarantee expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(60,838)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(53,802)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(22,650)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(18,866)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other financial costs, including bank fees</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(87,411)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(36,773)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(20,084)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(17,579)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,476,929)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,150,867)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(680,502)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(550,711)</FONT></B></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">Other financial costs increase mainly relates to an impairment recognized by Ambev on its investment in Venezuela followed the devaluation of the country&#8217;s currency in the amount of R$ 30,333.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interest expenses are presented net of the effect of interest rate derivative instruments which mitigate Ambev S.A. interest rate risk (Note 19 - </FONT><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">)</FONT><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.&nbsp;</FONT></I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> The interest expense recognized on hedged or non financial liabilities and the net interest expense from the related hedging derivative instruments are as follows:</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest expense</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities measured at amortized cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(206,817)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(253,150)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(67,903)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(56,899)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities at fair value through profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(207,134)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(102,647)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(76,804)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(83,012)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fair value hedge - hedged items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,682 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(10,228)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(5,876)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(8,838)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fair value hedge - hedging instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(24,124)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">25,866 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,078)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,726 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cash flow hedges - hedged items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(5,733)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(186)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cash flow hedges - hedging instruments (reclassified from equity)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,782 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">96 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(433,393)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(343,110)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(152,661)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(144,113)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Foreign exchange gains and losses are presented net of the effect of foreign exchange derivative instruments designated as hedges. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Finance income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">214,001 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">196,779 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">71,664 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">48,770 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Net gains on hedging instruments that are not part of a hedge accounting relationship</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">177,526 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">253,723 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">89,025 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">117,998 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Hedge ineffectiveness gains</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,205 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,434 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Gains on no derivative instrument at fair (value through profit or loss)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">65,314 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">50,519 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">20,961 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,095 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest and foreign exchange rate on loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">651 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">240 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,120 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14,283 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,714 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,651 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">473,961 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">520,160 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">185,364 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">185,188 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<a name="_bclFooter59"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>59</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_60"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader60"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interest income arises from the following financial assets:</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">158,680 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">151,348 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">50,717 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30,952 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment securities held for trading</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">55,321 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">45,431 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">20,947 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,818 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">214,001 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">196,779 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">71,664 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">48,770 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The net income from the operational and investment recognized directly as Comprehensive Income is shown below</FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">:&nbsp;</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Hedging reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Recognized in Equity (cash flow hedge)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">64,756 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">463,806 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,192)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">99,719 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Removed from Equity and included in profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(134,951)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(236,168)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(62,006)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(24,627)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred income tax variance in Equity and other changes</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">35,089 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(79,536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">37,391 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,034 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(35,106)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">148,102 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(25,807)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">81,126 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Exchange differences on translation of foreign operations (gains/ (losses))</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Effective portion of changes in fair value of net investment hedges </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(185,305)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(238,712)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,538 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(13,359)</FONT></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter60"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>60</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_61"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader61"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">17. INCOME TAX AND SOCIAL CONTRIBUTION</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 13pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;Income taxes reported in the income statement are analyzed as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income tax expense - current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,758,416)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,679,170)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(370,166)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(362,216)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred tax (expense)/income on temporary differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(156,270)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">132,132 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(327,241)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(24,166)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred tax on taxes losses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">70,038 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">184,244 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(135,059)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(33,676)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total deferred tax (expense)/income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(86,232)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">316,376 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(462,300)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(57,842)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total income and expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,844,648)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,362,794)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(832,466)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(420,058)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The reconciliation from the weighted nominal to the effective tax rate is summarized as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Profit before tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,448,123 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,049,827 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,171,468 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,903,413 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adjustment on taxable basis</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-taxable income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(239,411)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(347,505)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(47,091)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(113,671)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Government grants related to sales taxes </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(531,562)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(369,147)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(190,660)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(173,234)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(5,677)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(91)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(3,892)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(32)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Expenses not deductible for tax purposes </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">72,719 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">155,571 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(65,303)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">71,888 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7,744,192 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7,488,655 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,864,522 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,688,364 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Aggregated weighted nominal tax rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">32.68%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">33.26%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">33.32%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">35.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Taxes &#8211; nominal rate </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,530,508)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,490,362)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(954,580)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(940,959)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adjustment on tax expense</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Regional incentives - income taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">31,030 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">71,781 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,337 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26,890 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deductible interest attributed to shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">128,607 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">400,375 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">127,432 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Tax savings from goodwill amortization on tax books</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">187,822 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">90,565 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">62,607 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">30,189 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Withholding tax and other income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(232,884)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(64,994)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(181,440)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(35,384)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non-deductible losses in operations abroad</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,549 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,911 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,092 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,328 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other tax adjustments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">568,736 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">627,930 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">229,517 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">369,446 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Income tax and social contribution expense</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,844,648)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,362,794)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(832,466)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(420,058)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Effective tax rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">21.84%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">16.93%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26.25%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14.47%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The main events occurring in the period that impacted the effective tax rate were: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;(a) Tax benefit related to the amortization of goodwill arising from the acquisition of CND; (b) higher income from companies with an average tax rate of less than 34%, which were partially offset by the reduction in regional income tax incentives; and (c) decrease in interest on shareholder&#8217;s equity expense.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company has been granted income tax incentives by the Brazilian Government in order to promote economic and social development in certain areas of the North and Northeast. These incentives are recorded as income on an accrual basis and allocated at year-end to the tax incentive reserve account.</FONT><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter61"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>61</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_62"></A>

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<a name="_bclHeader62"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">18. SHARE-BASED PAYMENTS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">There are different share-based payment programs and stock option plans which allow the senior management from Ambev economic group to receive or acquire shares </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of the subsidiary Ambev</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. &nbsp;For all option plans, the fair value is estimated at grant date, using the Hull binomial pricing model.</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">This current model of share based payment includes two types of grants: (i) for the first type of grant, the beneficiary may choose to allocate 30%, 40%, 60%, 70% or 100% of the amount related to the profit share he received in the year, at the immediate exercise of options, thus acquiring the corresponding Preferred shares of the Company, and the delivery of a substantial part of the acquired shares is conditioned to the permanency in the Company for a period of five-years from the date of exercise (&#8220;Grant 1&#8221;) and; (ii) for the second type of grant, the beneficiary may exercise the options after a period of five years (&#8220;Grant 2&#8221;). In this new model, the exercise of options is not subject to the fulfillment of performance goals of the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The 2010.2 Program included two types of grants described above (Grant 1 and 2), the 2011.1 program included only Grant 1 and 2010.3 and 2011.2 Programs contemplated only Grant 2.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Additionally, to encourage managers to be mobile, some options granted in previous years were modified , where the dividend protection features of such options were canceled in exchange for issuing 26 thousand options in 2013 (69 thousand options in 2012), representing the economic value of the dividend protection feature eliminated. As there was no change to the fair value of the original award immediately prior to the modification and the fair value of the modified award immediately after the change, no additional expense was recorded as a result of this change</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The weighted average fair value of the options and assumptions used in applying the </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> option pricing model for the 2013 and 2012 grants are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">In R$, except when mentioned</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fair value of options granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">32.36 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">27.88 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Share price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">94.43 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">85.26 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Exercise price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">94.43 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">85.26 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Expected volatility</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">35.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">33.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Vesting year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Expected dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">de 0% a 5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">de 0% a 5%</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Risk-free interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,9% &#224; 9,8% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,1% &#224; 11,2% </FONT></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="Times New Roman">(i)</FONT><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="Times New Roman">Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(ii</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">) The percentages include the grants of stock options and ADRs during the period, in which the risk-free interest rate of ADRs are calculated in U.S. dollar.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The total number of outstanding options developed as follows:</FONT></P>

<a name="_bclFooter62"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>62</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Thousand options</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options outstanding at January 1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">28,783 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,562 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options issued during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">26 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,103 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options exercised during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(794)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,500)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options forfeited during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(393)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,382)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options outstanding at ended year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">27,622 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">28,783 </FONT></B></P></TD></TR></TABLE></DIV>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader63"></a><DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> <BR>The range of exercise prices of the outstanding options is between </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$9.14&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$11.52 as of December 31, 2012) and </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$89.20&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$89.20 as of December 31, 2012) and the weighted average remaining contractual life is approximately</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> 8.01</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> years (8.15 years as of December 31, 2012).</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Of the 27,622 thousand outstanding options (28,783 thousand as of December 31, 2012), 7,466 thousand options are vested as at September 30, 2013 (5,042 as at December 31, 2012.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The weighted average exercise price of the options is as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">In R$ per share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options outstanding at January 1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">36.16 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29.87 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options issued during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">88.41 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">85.73 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options forfeited during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">40.11 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13.93 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options exercised during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">21.87 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14.12 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options outstanding at ended period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">35.99 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">36.16 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Options exercisable at ended period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">19.56 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">18.96 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">For the options exercised during 2013, the weighted average market price on the exercise date was R$84.39.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">To settle stock options, Ambev may use treasury shares. The current limit of authorized capital is considered sufficient to meet all stock option plans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">During the period, Ambev issued 854 thousand (967 in 2012) deferred stock units related to exercise of the options in the model &#8220;Grant 1&#8221;. These deferred stock units are valued at the share price of the day of grant, representing a fair value of approximately R$76,487 (R$47,549 in 2012), and cliff vest after five years.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The total number of shares purchased under the plan of shares by employees, whose grant is deferred to a future time under certain conditions (deferred stock), is shown below:</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Thousand deferred shares</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred shares outstanding at January 1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,306 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,392 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">New deferred shares during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">854 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">967 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred shares forfeited during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(41)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(53)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deferred shares outstanding at ended year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,119 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,306 </FONT></B></P></TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>63</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Additionally, certain employees and directors of Ambev receive options to acquire ABI shares, the compensation cost of which is recognized in the income statement against equity in Ambev&#8217;s financial statements as of September 30, 2013</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=windowtext face="times new roman">.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0.25in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">These share-based payments generated an expense of R$124,299 and 106,004 in the period ended September 30, 2013 and 2012, respectively, recorded as administrative expenses.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">19. FINANCIAL INSTRUMENTS AND RISKS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1) Risk factors</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company is exposed to foreign currency, interest rate, commodity price, liquidity and credit risk in the ordinary course of business. The Company analyzes each of these risks both individually and as a whole to define strategies to manage the economic impact on Company&#8217;s performance consistent with its policy of Financial Risk Management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s use of derivatives strictly follows its financial risk policy approved by the Board of Directors. The purpose of the policy is to provide guidelines for the management of financial risks inherent to the capital markets in which Ambev S.A. Predecessor carries out its operations. The policy comprises 4 main aspects: (i) capital structure, financing and liquidity, (ii) transactional risks related to the business, (iii) financial statements translation risks and (iv) credit risks of financial counterparties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The policy establishes that all the financial assets and liabilities in each country where Ambev S.A. Predecessor operates must be denominated in their respective local currencies whenever possible. The policy also sets forth the procedures and controls needed for identifying, measuring and minimizing market risks, such as variations in foreign exchange rates, interest rates and commodities (mainly aluminum, wheat, corn and sugar) that may affect Ambev S.A. Predecessor&#8217;s revenues, costs and/or investment amounts. The policy states that all the currently known risks (e.g. foreign currency and interest) shall be mitigated by contracting derivative instruments. Existing risks not yet evident (e.g. future contracts for the purchase of raw material and property, plant and equipment) shall be mitigated using projections for the period necessary for the Company to adapt to the new costs scenario that may vary from 10 to 14 months, also through the use of derivative instruments. Any exception to the policy must be approved by the Board of Directors.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s operations are subject to the risk factors described below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1.1) Foreign currency risk</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company incurs foreign currency risk on borrowings, investments, purchases, dividends and interest expense/income whenever they are denominated in a currency other than the functional currency of the subsidiary. The main derivatives financial instruments used to manage foreign </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">currency risk are futures contracts, swaps, options, non deliverable forwards and full deliverable forwards.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>64</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Foreign currency risk on operational activities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As far as foreign currency risk on firm commitments and forecasted transactions is concerned, the Company&#8217;s policy is to hedge operational transactions which are reasonably expected to occur. The table below shows the main net foreign currency positions on September 30, 2013, and the exposure may vary from ten to fourteen months, according to the Company&#8217;s financial risk management policy. Positive values &#8203;&#8203;indicate that the Company is long (net future cash inflows) in the first currency of the currency pair while negative values &#8203;&#8203;indicate that the Company is short (net future cash outflows) in the first currency in the currency pair. The second currency of the currency pairs listed is the functional currency of the related subsidiary.</FONT></P>

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<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total exposed </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Open position</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total exposed </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Open position</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Canadian Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(387,706)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">387,706 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(378,573)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">378,573 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Paraguayan Guarani</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(166,556)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">166,556 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(129,607)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">129,607 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Argentinean Peso </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(656,957)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">656,957 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(612,969)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">612,969 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Bolivian Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(163,197)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">163,197 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(142,170)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">142,170 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Chilean Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(218,210)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">218,210 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(90,948)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">90,948 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Dominican Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(30,653)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">30,653 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(68,327)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">68,327 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(62,368)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">62,368 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Real</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(4,108,775)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,108,775 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,141,779)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,141,779 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dollar / Peruvian Sol</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(161,709)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">161,709 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(157,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">157,193 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Euro / Canadian Dollars </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(84,285)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">84,285 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(62,622)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">62,622 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Euro / Real</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(298,685)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">298,685 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(132,317)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">132,317 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Pound Sterling / Canadian Dollars</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,605)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,605 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(22,104)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">22,104 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(6,318,012)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,318,012 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(4,963,303)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,963,303 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In conformity with IAS 39, these instruments denominated in foreign currency are designated as cash flow hedges.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Foreign currency on operating activities sensitivity analysis</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Net positions in foreign currencies are converted into the Company&#8217;s functional currency through the use of derivatives. The Company&#8217;s strategy is to minimize open positions to the market, thereby reducing any operational exposure to foreign currency fluctuations.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Foreign exchange risk on net investments in foreign operations</FONT></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company enters into hedging activities to mitigate exposures related to part of its investments in foreign operations. These derivatives have been appropriately classified as net investment hedges and recorded on the Statements of Comprehensive Income as gains and (losses) on translation of foreign operations (gains/losses).</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>65</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_66"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1.2) Interest rate risk</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company applies a dynamic interest rate hedging approach whereby the target mix between fixed and floating rate debt is reviewed periodically. The purpose of the Company&#8217;s policy is to achieve an optimal balance between cost of funding and profitability of financial results, while taking into account market conditions as well as the Company&#8217;s overall business strategy.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Ambev Bond Hedges (interest rate risk on borrowings in Brazilian Real)</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In July 2007, Ambev International Finance Co.(Ambev&#8217;s w<FONT style="FONT-SIZE: 12pt" face="Times New Roman">h</FONT>olly-subsidiary) issued a Brazilian Real bond (Bond 2017), of R$300 million, which bears interest at 9.5% per year, with interest repayable semi-annually with final maturity in July 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company entered into a fixed/floating interest rate swap to hedge the interest rate risk on the Bond 2017. These operations have been designated in a fair value hedge accounting relationship. </FONT></P>

<H5 style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Debt Securities Hedge (interest rate on debt securities in Brazilian Real)</FONT></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">During the period, Ambev S.A. invested in government (fixed income) bonds. These instruments are categorized financial asset at fair value through profit as held for trading. The Company also purchased interest rate futures contracts to compensate for exposure to real interest rate on the government bonds. Although both instruments are measured at fair value, with the respective variations recorded in the income statement, there is no hedge accounting structure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interest rate sensitivity analysis</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The table below shows the Company&#8217;s exposure related to debt hedged, before and after applying hedge accounting, segregated by the currency in which the debt is denominated, as well as the interest rates of the respective transactions.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="38%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="38%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Pre - Hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Post - Hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Pre - Hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="18%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Post - Hedge</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Amount</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,402,995 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">7.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,246,918 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,527,230 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,211,292 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">721,229 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">356,340 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">650,056 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">279,989 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dominican Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9.5%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">75,832 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9.5%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">75,832 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10.6%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">189,004 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10.6%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">189,004 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest rate postfixed</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,200,056 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,679,090 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,366,290 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,680,285 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">584,752 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">299,268 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">695,151 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">381,156 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Argentinean Peso </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">353 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">353 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Dominican Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">206 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">206 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">215,469 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">21,919 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">33,110 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">33,110 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Peruvian Sol</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">49,095 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">5.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">49,095 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest rate pre-set</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">800,574 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">321,540 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">777,562 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">463,567 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">To perform the sensitivity analysis, the Company took into account that the greatest possible impact on income / interest expense in the case of a short position in an interest rate futures </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">contract is where the Referential Rate (&#8220;TR&#8221;) rises. Ambev S.A. estimated the possible loss, considering a scenario of variable interest rates.</FONT></P>

<a name="_bclFooter66"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>66</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_67"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader67"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Applying the sensitivity analysis where all other variables remain constant, showed a fluctuation of 25% (adverse scenario) in the interest rate up to September, 2013 would produce an increase of approximately </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$36&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> million in interest expense and approximately </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$50&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> million in interest income from cash investments, while a swing of 50% (less likely scenario) would present an increase of approximately </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$71&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> million in expense and </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$99&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> million in income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1.3) Commodity Risk</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">A significant portion of the Company inputs comprises commodities, which historically have experienced substantial price fluctuations. The Company therefore uses both fixed price purchasing contracts and commodity derivatives to minimize exposure to commodity price volatility. Ambev S.A. Predecessor has important exposures to the following commodities: aluminum, sugar, wheat and corn. These derivative instruments have been designated as cash flow hedges.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total Exposure</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total of Derivatives</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Open Position</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total Exposure</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total of Derivatives</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Open Position</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Aluminum </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(963,482)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">963,482 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(667,598)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">667,598 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Sugar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(391,832)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">391,832 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(334,755)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">334,755 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Wheat </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(489,630)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">489,630 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(249,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">249,943 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Heating oil </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(31,019)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">31,019 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(29,682)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">29,682 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Crude oil </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(19,586)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">19,586 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(20,377)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">20,377 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Natural Gas </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,816)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,816 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(6,805)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">6,805 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Paraxylene </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(100,730)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">100,730 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Corn </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(266,496)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">266,496 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(319,901)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">319,901 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(2,269,591)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,269,591 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,629,061)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,629,061 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Commodity sensitivity analysis</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Due to the volatility of commodities prices, the Company uses fixed price future contracts and derivatives instruments to minimize exposure to market movements that could affect income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The table below shows the estimated impact on equity from fluctuations in 25% and 50% in commodities prices. Hedge operations for transactions which may impact equity will generate results inversely proportional to the impact on the acquisition cost of commodities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>67</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="50%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Impact on Equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adverse scenario 25%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Remote scenario 50%</FONT></B></P></TD>

   <TD vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Adverse scenario 25%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Remote scenario 50%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 8.65pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 8.65pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 8.65pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 8.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 8.65pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 8.65pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Aluminum </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(240,870)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(481,741)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(165,146)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(330,291)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Sugar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(97,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(195,916)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(83,689)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(167,378)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Wheat </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(122,407)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(244,815)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(62,486)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(124,971)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Heating oil </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(7,755)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(15,509)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(7,249)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(14,499)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Crude oil </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(4,897)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(9,793)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(5,094)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(10,189)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Natural Gas </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,704)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(3,408)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,584)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(3,167)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Paraxylene </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(25,183)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(50,365)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Corn </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(66,624)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(133,248)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(79,975)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(159,951)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(567,398)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(1,134,795)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(405,223)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">(810,446)</FONT></B></P></TD></TR></TABLE><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></DIV>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1.4) Credit Risk</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Concentration of credit risk on trade receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">A substantial part of the Company&#8217;s sales is made to distributors, supermarkets and retailers, within a broad distribution network. Credit risk is reduced because of the widespread number of customers and control procedures used to monitor risk. Historically, the Company has not experienced significant losses on receivables from customers.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Concentration of credit risk on counterpart </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In order to minimize the credit risk of its investments, the Company has adopted procedures for the allocation of cash and investments, taking into consideration limits and credit analysis of financial institutions, avoiding credit concentration, i.e., the credit risk is monitored and minimized to the extent that negotiations are carried out only with a select group of highly rated counterparties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The selection process of financial institutions authorized to operate as the Company&#8217;s counterparties is set forth in our credit risk policy. This credit risk policy establishes maximum limits of exposure to each counterparty based on the risk rating and on each counterparty's capitalization. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In order to minimize the risk of credit with its counterparties on significant derivative transactions, the Company has adopted bilateral &#8220;trigger&#8221; clauses. According to these clauses, where the fair value of an operation exceeds a percentage of its notional value (generally between 10% and 15%), the debtor settles the difference in favor of the creditor. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As of September 30, 2013, the Company held its main short-term investments with the following financial institutions: Banco do Brasil, Caixa Econ&#244;mica Federal, BNP Paribas, Bradesco, Merrill Lynch, Morgan Stanley, Deutsche Bank, Ita&#250;-Unibanco, Citibank, TorontoDominion </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Bank, ING, JP Morgan Chase, Patagonia, Santander, Barclays and HSBC. The Company had derivatives agreements with the following financial institutions: Barclays, Citibank, Merril Lynch, Morgan Stanley, Deutsche Bank, Ita&#250;-Unibanco, JP Morgan Chase, Santander, ScotiaBank, Soci&#233;t&#233; G&#233;n&#233;rale, Banco Bisa, Banco de Cr&#233;dito do Peru, BNB, BNP Paribas, Macquarie and TD Securities.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>68</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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&nbsp; <A name="page_69"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The carrying amount </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="cambria math">&#8203;&#8203;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of cash and cash equivalents, investment securities, trade and other receivables excluding prepaid expenses, taxes receivable and derivative financial instruments are disclosed net of provisions for impairment and represents the maximum exposure of credit risk as of September 30, 2013. There was no concentration of credit risk with any counterparties as of September 30, 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1.5) Liquidity risk</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company believes that cash flows from operating activities, cash and cash equivalents and short-term investments, together with the derivative instruments and access to loan facilities are sufficient to finance capital expenditures, financial liabilities and dividend payments in the future.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">2) Financial instruments:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Management of these instruments is effected through operational strategies and internal controls to assure liquidity, profitability and transaction security. Financial instruments transactions are regularly reviewed for the effectiveness of the risk exposure that management intends to cover (foreign exchange, interest rate etc.).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Transactions involving financial instruments, segregated by category, are recognized in the financial statements, as below:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Loans and receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial asset at fair value through profit or loss</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Held to maturity</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Avaiable for sale</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">September 30, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assets due to Balance sheet</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,835,170 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,835,170 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">612,489 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">69,435 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">173,121 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">855,045 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other receivables excluding prepaid expenses and taxes receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,083,411 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,083,411 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial instruments derivatives</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">121,334 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">247,150 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">368,484 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,918,581 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">733,823 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">247,150 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">69,435 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">173,121 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,142,110 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>69</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_70"></A>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Loans and receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial asset at fair value through profit or loss</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Held to maturity</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Avaiable for sale</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Assets due to Balance sheet</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,974,320 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">8,974,320 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">291,183 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">61,436 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">373,367 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">725,986 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other receivables excluding prepaid expenses and taxes receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,058,587 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">4,058,587 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial instruments derivatives</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">200,106 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">171,015 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">371,121 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,032,907 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">491,289 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">171,015 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">61,436 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">373,367 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14,130,014 </FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>

<P></P></FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;

<P></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities through amortized cost</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities at fair value through profit and loss</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">September 30, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Liabilities due to Balance sheet</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other payables excluding tax payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">9,679,816 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,462,800 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,142,616 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial instruments derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">422,634 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">350,049 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">772,683 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest-bearning loans and borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,999,703 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,999,703 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,679,519 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,885,434 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">350,049 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">15,915,002 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities through amortized cost</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities at fair value through profit and loss</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Liabilities due to Balance sheet</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Trade and other payables excluding tax payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11,155,875 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,125,754 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">13,281,629 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial intruments derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">686,738 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">369,093 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">1,055,831 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Interest-bearning loans and borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,143,729 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,143,729 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">14,299,604 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,812,492 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">369,093 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">17,481,189 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></P>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Classification of financial instruments by type of fair value measurement</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Pursuant to IFRS 7, </FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; BACKGROUND: white; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the classification of the instruments at fair value held on September 30, 2013 is shown below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="32%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="32%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Level 1</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Level 2</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Level 3</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Level 1</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Level 2</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Level 3</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial assets</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial asset at fair value through profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">612,489 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">612,489 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">291,183 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">291,183 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives at fair value through profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">109,072 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12,262 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">121,334 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">33,925 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">166,181 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">200,106 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives - cash flow hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">119,461 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">39,521 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">158,982 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">32,815 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">67,225 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">100,040 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives - fair value hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">20,827 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">20,827 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives - investment hedge</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">68,832 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">19,336 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">88,168 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">31,562 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">18,586 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">50,148 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">909,854 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">71,119 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">980,973 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">389,485 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">272,819 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">662,304 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial liabilities at fair value through profit and loss (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,462,800 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,462,800 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">40,006 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">646,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,125,754 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,812,492 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives at fair value through profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">141,910 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">280,724 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">422,634 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives - cash flow hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">238,036 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">90,024 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">328,060 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">87,746 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">156,728 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">244,474 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives - fair value hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11,130 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">11,130 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Derivatives - investment hedge</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,859 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">10,859 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">23,509 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">101,110 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">124,619 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">390,806 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">381,877 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,462,800 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,235,483 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">151,261 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">904,570 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2,125,754 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">3,181,585 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; BACKGROUND: white; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></P>

<a name="_bclFooter70"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>70</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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&nbsp; <A name="page_71"></A>

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<a name="_bclHeader71"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">(i) As part of the shareholders agreement between the Ambev and ELJ, a sale option (&#8220;put&#8221;) and the purchase (&#8220;call&#8221;) was issued, which may result in an acquisition by Ambev the remaining shares of CND, for a value based&nbsp; on EBITDA multiples and exercisable annually until 2019. On September 30, 2013 the option of sale held by ELJ is valued at approximately R$2.4 billion and liabilities was recorded with counterpart in net worth in accordance with the IFRS 3 and categorized as &#8220;Level 3&#8221;. No value has been assigned the purchase option held by the Ambev. The fair value of this consideration deferred was calculated by using standard techniques of exploitation (present value of the principal amount and interest rate futures, discounted by the market rate). The criteria used are based on market information from reliable sources and they are revaluated on an annual basis at the same moment that the Company applies the impairment test. The changes in Level 3 are presented as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Reconciliation of changes in the categorization of Level 3</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance of financial liabilities at December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,125,754 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total gains and losses in the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">337,046 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Expense recognized in the income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">260,652 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Expense recognized in equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">76,394 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Balance of financial liabilities at September 30, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,462,800 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Level 1 &#8211; valuation at quoted prices (unadjusted) in active markets;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Level 2 &#8211; other data besides those quoted in an active market (Level 1) that may indicate a fair value for the obligations and rights directly (e.g., active market prices) or indirectly (e.g., valuation techniques that use data derived from active markets); and,</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Level 3 &#8211; valuation inputs that are not based on observable market data (unobservable inputs). </FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">2.1) Derivative instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">To meet its objectives, the Company and its subsidiaries use currency, interest, and commodity derivative instruments. Derivative instruments authorized by the risk policy are futures contracts traded on exchanges, deliverable forwards, non-deliverable forwards, swaps and purchase options. At September 30, 2013, the Company and its subsidiaries had no target forward operations, swaps with currency verification or any other derivative operations representing a risk level above the nominal value of the hedged item. The derivative operations are classified by strategy according to their purpose, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">i) </FONT><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Operational hedge</FONT></B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &#8211; operations contracted with the purpose of reducing the Company&#8217;s exposure, net of taxes, to the volatility of foreign exchange rates and raw material prices and commitments for investments, equipment and services to be acquired. All such derivatives are classified as cash flow hedge instruments. Thus, the net results of such operations calculated at fair value, are recorded in equity accounts until recognition of the hedged item, when the accumulated results are recycled to the appropriate income statement account.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The highly probable forecast transactions contracted in order to minimize the Company's exposure to fluctuations of exchange rates and prices of raw materials, investment, equipment and services to be procured, protected by cash flow hedges shall occur at various different dates </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">during the next fourteen months. Gains and losses recognized as hedging reserve in equity are recognized in the income statement in the period or periods when the forecast and hedged transaction affects the income statement. This usually occurs in the period of fourteen months from the balance sheet date in accordance with the Company&#8217;s Financial Risk Management Policy. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>71</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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&nbsp; <A name="page_72"></A>

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<a name="_bclHeader72"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ii) Financial hedge - operations contracted with the purpose of mitigating the Company&#8217;s net indebtedness against foreign exchange and interest rate risk. Cash net positions and foreign currency debts are continually assessed for identification of new exposures. Derivative used to protect the risks related to Bond 2017 was designated as fair value hedge instrument. Thus, their results, measured according to their fair value, are recognized in each year in financial results. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">iii) </FONT><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Fiscal hedge</FONT></B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> &#8211; operations contracted with the purpose of minimizing the fiscal impact of income tax related to the foreign exchange gains/losses on loan agreements between Ambev S.A. and its subsidiaries abroad denominated in U.S. dollars. Such contracts are represented by long-term borrowings, duly recorded at Brazilian Central Bank, adjusted for foreign exchange variation plus market interest rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In order to offset the tax effect on unmatched exposures, the Company contracted derivative instruments (futures contracts), the results of which are measured at fair value and recognized on an accrual basis within income tax expense of each period. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">iv) </FONT><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Net investment hedge</FONT></B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> - transactions entered into in order to minimize exposure of the exchange differences arising from translation of net investment in the Company's subsidiaries located abroad for translation account balance. All derivatives allocated to this type of transaction are classified as net investment hedge instruments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Part of the effective hedge is allocated to equity and the ineffectiveness part is recorded directly in financial results.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>72</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As of September 30, 2013 and December 31, 2012 the contracted amounts of these instruments and their respective fair values, as well as the cumulative effects in each period, are detailed in the table below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Purpose / Risk / Instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Notional (i)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="38%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fair value</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">Liabilities</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,482,010 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,274,096 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">16,432 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(74,816)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,363 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(16,440)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Option to acquire </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">925,450 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">78,331 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,434,957 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,225,907 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">16,132 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(13,344)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">10,547 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(51,434)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">475,595 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">463,299 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,730 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(4,105)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,275,090 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">933,770 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">28,468 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(168,463)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">76,928 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(107,886)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">994,500 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">695,291 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">19,178 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(80,291)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">41,049 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(92,211)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Operational hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">8,587,602 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,592,363 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">163,271 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(336,914)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">132,887 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(272,076)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,075,155 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(664,240)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">50,965 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(85,648)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">13,989 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(14,670)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">251,986 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">239,101 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">832 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(18,923)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">21,699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(180,696)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,351,282 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">19,803 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(10,533)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(350,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(400,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">618 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(373)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">219 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(356)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">300,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">300,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(11,130)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">20,827 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,277,141 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">826,143 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">52,415 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(116,074)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">76,537 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(206,255)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(42,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,985)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">53,719 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(52,020)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,037 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(6,003)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps / Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,459,957)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(2,182,458)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">10,911 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(256,817)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">105,512 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(446,878)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fiscal hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,502,676)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(2,186,443)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">64,630 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(308,837)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">111,549 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(452,881)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,467,253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(2,462,826)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">68,832 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(10,859)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">31,562 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(23,509)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">790,477 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">19,336 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">18,586 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(101,110)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(2,676,776)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(2,462,826)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">88,168 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(10,859)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">50,148 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(124,619)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total Derivatives</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,685,291 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,769,237 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">368,484 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(772,684)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">371,121 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(1,055,831)</FONT></B></P></TD></TR></TABLE><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(i) The negative positions refer to long positions and the positive positions refer to short positions.<BR></FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(ii) The future contracts are traded on organized futures exchanges, while other derivative financial instruments are negotiated directly with financial institutions.</FONT></P>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company recorded gains and losses on derivative financial instruments in period ended September 30, 2013 and 2012 as below: </FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="53%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Result (iii)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="47%" colSpan=3>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Purpose / Risk / Instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">76,521 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">394,160 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(44,194)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">41,724 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Option to acquire </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">36,741 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,385 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(6,101)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,385 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">193,200 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">14,478 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">44,997 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(11,479)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">5,988 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">12,305 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,756)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">579 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(11,435)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(155,187)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">64,816 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(14,559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">102,283 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(92,507)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(23,339)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">20,421 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(23,339)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Operational hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">64,756 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">463,806 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,192)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">99,719 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">78,513 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">70,496 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(12,286)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(40,779)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Option to acquire </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(22,936)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(15,893)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(15,335)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(14,956)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(9,304)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(12,843)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,919)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,982)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(47,396)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,840)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(10,070)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">7,029 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(10,726)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(23)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(5,761)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(54,240)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(65,238)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(24,124)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">25,866 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,078)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">4,267 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Financial hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(41,734)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">11,546 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(42,711)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(112,659)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(99,340)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(3,246)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(57,758)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">653 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps / Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(40,431)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(118,815)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">62,829 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(15,545)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fiscal hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(139,771)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(122,061)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">5,071 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(14,892)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(169,929)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(138,849)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(15,030)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(11,557)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(15,376)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(99,863)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">17,568 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,802)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(185,305)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(238,712)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,538 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(13,359)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Total Derivatives</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(302,054)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">114,579 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(36,294)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(41,191)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

<a name="_bclFooter73"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>73</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_74"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader74"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">(iii) The result of R$64,756</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">related to hedge operations was recognized in equity (hedge reserves) as the result of net investment hedge in an amount of R$(185,305) which was allocated as income (losses) on translation of subsidiaries operations as presented in Other comprehensive income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">The result of the financial hedging of R$(41,734)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif> </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">was fully recorded in the financial results.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">The effect of R$139,771 related to derivatives designated as Fiscal hedges, was recognized in the income tax and social contribution.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"><BR></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As of September 30, 2013 the Notional and Fair Value amounts per instrument/ maturity were as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="37%" colSpan=3 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Purpose / Risk / Instruments</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="63%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Notional</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">&gt;2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,482,010 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,482,010 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Option to acquire </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">925,450 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">925,450 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">654,624 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">780,333 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,434,957 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">108,976 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">366,619 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">475,595 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">423,876 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">790,622 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">60,592 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,275,090 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">210,350 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">726,130 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">58,020 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">994,500 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Operational hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">4,879,836 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,589,154 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">118,612 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">8,587,602 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,075,155 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,075,155 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">251,986 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">251,986 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(320,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(30,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(350,000)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">300,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">300,000 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,075,155 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(68,014)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(30,000)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">300,000 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,277,141 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(42,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(42,719)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps / Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,459,957)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,459,957)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fiscal hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(3,502,676)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(3,502,676)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,467,253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,467,253)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">790,477 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">790,477 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,676,776)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,676,776)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total Derivatives</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">775,539 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,589,154 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">50,598 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(30,000)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">300,000 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">4,685,291 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="37%" colSpan=3 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Purpose / Risk / Instruments</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fair Value</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">&gt;2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Total</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(58,384)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(58,384)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Option to acquire </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">78,331 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">78,331 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(3,721)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">6,509 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,788 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,714 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,016 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">4,730 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(84,277)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(56,658)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(139,995)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(42,077)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(22,028)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,992 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(61,113)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Operational hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(184,745)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">7,170 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,932 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(173,643)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(34,683)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(34,683)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">831 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(18,922)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(18,091)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">218 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">27 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">245 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(11,130)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(11,130)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(33,852)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(18,704)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">27 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(11,130)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(63,659)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,699 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Swaps / Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(245,906)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">(245,906)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fiscal hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(244,207)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(244,207)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">57,973 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">57,973 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">19,336 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">19,336 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">77,309 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">77,309 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total Derivatives</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(385,495)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">7,170 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(14,772)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">27 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(11,130)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(404,200)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Sensitivity analysis</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company mitigates risks arising from non-derivative financial assets and liabilities substantially, through derivative instruments. The Company has identified the main risk factors </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">that may generate losses from these derivative financial instruments and has developed a sensitivity analysis based on three scenarios, which may impact future results and /or&nbsp;cash flows, as described below:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>74</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_75"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader75"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1 &#8211; Base scenario: stable foreign exchange rate, interest rates and commodity prices at the same levels observed on September 30, 2013 </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">2 &#8211; Adverse scenario: 25% deterioration in each transaction&#8217;s main risk factor as compared to the level observed on September 30, 2013. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">3 &#8211; Remote scenario: 50% deterioration in each transaction&#8217;s main risk factor as compared to the level observed on September 30, 2013. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In addition to the scenarios described above, the Company uses Value at Risk &#8211; VaR to measure the possible effects on the results of operations of derivative transactions. VaR is a statistical measure developed through estimates of standard deviation and correlation between the returns of several risk factors. This model results in the loss limit expected for an asset over a certain time period and confidence interval. Under this methodology, we used the potential exposure of each financial instrument, a range of 95% and horizon of 21 days for the calculation, which are presented in the module, as the following tables on September 30, 2013:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Risk factor</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Risk</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Base scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Adverse scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Remote scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">VaR (R$)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(58,384)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(928,886)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,799,389)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">248,244 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Option to acquire </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">78,331 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">78,332 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,788 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(355,951)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(714,690)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">35,792 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">4,730 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(114,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(233,068)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">16,172 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodity decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(139,995)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(458,768)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(777,540)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">163,645 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodity decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(61,113)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(309,738)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(558,363)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">110,852 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Operational hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(34,683)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(563,771)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,092,860)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">147,273 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Increase in tax interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(18,091)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(81,087)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(144,084)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">17,892 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Increase in tax interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">245 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">170 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">100 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Increase in tax interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(11,130)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(191,065)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(174,644)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">21,301 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(8,981)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(19,661)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,125 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Swaps / Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(245,906)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,384,070)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,522,234)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">266,062 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fiscal hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Future contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">57,973 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(779,045)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,616,063)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">246,387 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Non Deliverable Forwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">19,336 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(229,045)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(477,426)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">22,109 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" colSpan=2 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="11%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In addition to presenting the possible effects on individual results of derivative operations, we also show the effects of derivative operations contracted for asset protection along with hedged items which represents material risks for each kind of transaction.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<a name="_bclFooter75"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>75</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_76"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader76"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Transaction</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Risk</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Base scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Adverse scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Remote scenario</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(34,347)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,615,837)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(3,118,997)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Input purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">34,347 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,615,837 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,118,997 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Commodities hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Decrease on commodities price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(139,995)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(458,768)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(777,540)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Input purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">139,995 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">458,768 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">777,540 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(92,907)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(186,512)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Capex purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(699)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">92,907 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">186,512 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Operational hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(173,643)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,167,512)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(4,083,049)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Operational purchase</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">173,643 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,167,512 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">4,083,049 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Net effect</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(34,683)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(563,602)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,092,760)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Net debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">34,683 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">123,690 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">212,936 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest rate hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Increase in tax interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(28,976)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(272,152)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(318,728)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Interest expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">28,976 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">272,152 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">318,728 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Financial hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(63,659)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(835,754)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,411,488)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Net debt and interest</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">63,659 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">395,842 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">531,664 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Net effect</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(439,912)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(879,824)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(244,207)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,393,051)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,541,894)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fiscal expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">244,207 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,393,051 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,541,894 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Fiscal hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(244,207)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,393,051)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,541,894)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fiscal expense</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">244,207 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,393,051 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,541,894 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Net effect</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="26%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">77,309 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,008,090)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,093,489)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fiscal expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(77,309)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,008,090 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,093,489 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Investment hedge</FONT></B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman"> &nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">77,309 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(1,008,090)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(2,093,489)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fiscal expense</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(77,309)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,008,090 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,093,489 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="29%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Net effect</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Calculation of fair value of derivatives</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company measures derivative financial instruments by calculating their present value, through the use of market curves that impact the instrument on the computation dates. In the case of swaps, both the asset and the liability positions are estimated independently and brought to present value and the difference between the result of the asset and liability amount generates the swaps market value. For the traded derivative financial instruments traded, the fair value is calculated according to the adjusted exchange-listed price.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Margins given in guarantee</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In order to comply with the guarantee requirements of the derivative exchanges and/or counterparties in certain operations with derivative instruments, as of September 30, 2013 the Company held R$577,203 in investments securities or cash investments available on demand, classified as cash and cash equivalents (R$626,428 on December 31, 2012).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<a name="_bclFooter76"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>76</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_77"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader77"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">2.2) Debt instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s financial liabilities, mainly represented by debt securities are recorded at amortized cost according to the effective rate method, plus indexation and foreign exchange gains/losses, based on closing indices for each period. The Bond 2017 is designated as a fair value hedge and variations in the fair value of the hedged risk factors are recognized in the income statement in the same account as the variations of the respective loans. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Had the Company recognized its financial liabilities at market value, it would have recorded an additional loss, before income tax and social contribution, of R$(610,022) on September 30, 2013 (R$(28,622) on December, 31 2012), as presented below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="31%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Financial liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Book</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Market</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Difference</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Book</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Market</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Difference</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">International financing (other currencies)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">626,499 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">626,499 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">531,143 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">531,143 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">BNDES - National Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,537,639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,537,639 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,730,837 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">1,730,837 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">BNDES - International Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">364,889 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">364,889 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">378,925 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">378,925 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Bond 2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">285,499 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">295,521 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(10,022)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">313,993 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">342,615 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(28,622)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Fiscal incentives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">164,625 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">164,625 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">168,693 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">168,693 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="31%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Finance leasing - International Currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">20,552 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">20,552 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">20,138 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">20,138 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="31%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">2,999,703 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,009,725 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(10,022)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,143,729 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">3,172,351 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">(28,622)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The criterion used to determine the market value of the debt securities was based on quotations of investment brokers, on quotations of banks which provide services to Ambev S.A. and on the secondary market value of bonds as of September 30, 2013, being approximately 98.51% for Bond 2017 (114.21% for Bond 2017 at December 31, 2012).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">20. COLLATERAL AND CONTRACTUAL COMMITMENTS WITH SUPLLIERS, ADVANCES FROM CUSTOMERS AND OTHER</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Collateral given for own liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=#000000 face="times new roman"></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,143,358 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,178,904 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Other commitments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">312,355 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">282,049 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,455,713 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,460,953 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commitments with suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">14,468,183 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">14,968,554 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Commitments - Bond 17</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">300,000 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">300,000 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">14,768,183 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">15,268,554 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The collateral provided for liabilities totaled approximately R$1.5 billion as at September 30, 2013 including R$566,556 of cash guarantees. To meet the guarantees required by derivative exchanges and/or counterparties contracted in certain derivative financial instrument transactions, the Company maintained as at September 30, 2013 R$577,203 in highly liquid financial investments or in cash (Note 19 - </FONT><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">). &nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Most of the balance relates to commitments with suppliers of packaging.</FONT></P>

<a name="_bclFooter77"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>77</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_78"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader78"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The subsidiary Ambev is guarantor of the Bond issued by Ambev International Finance Co. Ltd. (wholly-owned) valued at R$300 million to 9.5% per year, maturing in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; BACKGROUND: white; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Future contractual commitments as at September 30, 2013 and December 31, 2012 are as follows:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Less than 1 year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,476,621 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,893,104 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">Between 1 and 2 years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,381,951 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,304,955 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face="times new roman">More than 2 years</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">8,909,611 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">10,070,495 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">14,768,183 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">15,268,554 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">21. CONTINGENCIES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company has contingent liabilities arising from lawsuits in the normal course of its business.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Contingent liabilities with a probable likelihood of loss are fully recorded as liabilities (Note 10).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company also has lawsuits related to tax, civil and labor, for which the likelihood of loss classified by management as possible and for which there are no provisions. Estimates of amounts of possible losses are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"><BR></FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">12/31/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">PIS and COFINS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">262,903 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">306,817 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">ICMS and IPI</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,371,037 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">2,927,650 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">IRPJ and CSLL</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">7,685,871 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">7,583,005 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">135,068 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">146,730 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Civil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">164,860 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">174,206 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">1,288,850 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">774,330 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12,908,589 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">11,912,738 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Principal Lawsuits with </FONT></B><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a likelihood of </FONT></B><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">possible loss:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;There were no changes in the other main processes with </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">possible likelihood of loss </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">classification as of September 30, 2013, compared to those presented in the financial statements as of December 31, 2012.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Contingent assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">According to IAS 37, contingent assets are not recorded, except when there are real guarantees or favorable legal decisions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<a name="_bclFooter78"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>78</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_79"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader79"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">22. RELATED PARTIES</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Policies and practices regarding the realization of transactions with related parties</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company adopts corporate governance practices and those recommended and/or required by the applicable law.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Under the Company&#8217;s bylaws the Board of Directors is responsible for approving any transaction or agreements between the Company and/or any of its subsidiaries, directors and/or shareholders (including shareholders, direct or indirect shareholders of Ambev S.A. Predecessor). The Compliance Committee of the Company is required to advise the Board of Directors of the Company in matters related to transactions with related parties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Management is prohibited from interfering in any transaction in which conflict exists, even in theory, with the Company&#8217;s interests. It is also not permitted to interfere in decisions of any other management member, requiring documentation in the minutes of Meeting of the Board any decision to abstain from the specific deliberation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s guidelines with related parties follow reasonable or commutative terms, similar to those prevailing in the market or under which the Company would contract similar transactions with third parties. These are clearly disclosed in the financial statements as reflected in written contracts.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Transactions with management members:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In addition to short-term benefits (primarily salaries), the management members are entitled to post-employment benefits, such as retirement benefits and health and dental care. Moreover, management members are entitled to participate in Stock Option Plan (Note 18 </FONT><I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#8211; Share-based payments</FONT></I><FONT style="LINE-HEIGHT: 108%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">).&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Total expenses related to the Company&#8217;s management members in key functions which is registered in Ambev, once the service has been provided for this legal entity, are as follows:</FONT></P>

<DIV align=left>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Nine-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">09/30/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">06/30/2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Short-term benefits (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12,941 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">20,761 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">3,395 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">11,139 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Share-based payments (ii)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">28,528 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">27,194 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">8,913 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">9,064 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face="times new roman">Total key management remuneration </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">41,469 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">47,955 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">12,308 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face="times new roman">20,203 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(i) These correspond substantially to salaries and profit sharing (including performance bonuses</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">).&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(ii) These correspond to the compensation cost of stock options granted to management. These amounts exclude remuneration paid to members of the Fiscal Council</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Excluding the above mentioned plan (Note 23 </FONT><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#8211; Share-based payments</FONT></I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">) of Ambev, the Company no longer has any type of transaction with the Management members or pending balances receivable or payable in its balance sheet.</FONT></P>

<a name="_bclFooter79"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>79</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

<P style="MARGIN: 0in 0.25in 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_80"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Transactions with the Company&#8217;s shareholders:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a) Medical, dental and other benefits</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Funda&#231;&#227;o Zerrenner is one of Ambev&#8217;s shareholders, and at September 30, 2013 held 9.59% of total share capital. Funda&#231;&#227;o Zerrenner is also an independent legal entity whose main goal is to provide Ambev S.A.&#8217;s employees, both active and retirees, with health care and dental assistance, technical and superior education courses, facilities for assisting elderly people, through direct initiatives or through financial assistance agreements with other entities. On September 30, 2013 and 2012, actuarial responsibilities related to the benefits provided directly by Funda&#231;&#227;o Zerrenner are fully funded by plan assets, held for that purpose, which significantly exceeds the liabilities at that date. Ambev S.A. recognizes the assets (prepaid expenses) of this plan to the extent of amounts from economic benefits available to the Company, arising from reimbursements or future contributions reduction.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The expenses incurred by Funda&#231;&#227;o Zerrenner in providing these benefits totaled </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$128,304&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> in the period ended September 30, 2013 (R$115,224 as of September 30, 2012), of which </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$112,853&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$102,387 as of September 30, 2012) related to active employees and </FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$15,451&nbsp;</FONT><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$12,837 as of September 30, 2013) related to retirees.</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 4.25pt 0pt 0in"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">b) Special Goodwill Reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As a result of the merger of InBev Holding Brazil S.A. by the Company in 2005, the Company benefits, each year, from the amortization of tax deductible goodwill pursuant to CVM Instruction 319/99. The balance of the special goodwill reserve as of </FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">September 30, 2013 </FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">was R$</FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">313,872&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$672,107 as of December 31, 2012) which may be used for future capital increases.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">c) Leasing </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The subsidiary Ambev, through its subsidiary BSA (labeling), has an asset leasing agreement with Funda&#231;&#227;o Zerrenner, for R$63,328 for ten years, maturing on March 31, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">d) Leasing &#8211; Ambev head office</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev has a leasing agreement of two commercial sets with Funda&#231;&#227;o Zerrenner with total sum installments until January 2014 of R$1,481. From that date the trade terms to be applied until the end of the contract on January 31, 2018, will be determined by the parties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">e) Licensing agreement</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company maintains a licensing agreement with Anheuser-Busch, Inc., to produce, bottle, sell and distribute Budweiser products in Brazil, Canada, Ecuador, Guatemala, Dominican Republic and Paraguay. In addition, the Company produces and distributes Stella Artois products </FONT>


<FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">under license to AB InBev in Brazil, Canada, Argentina, and other countries and, by means of a license granted to AB InBev, it also distributes Brahma&#8217;s product in parts of Europe, Asia and Africa. The amount recorded was R$11,498 (R$12,721 as of September 30, 2012) and R$181,137 (R$215,875 as of September 30, 2012) as licensing income and expense, respectively.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>80</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Joint arrangements</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As from January 1, 2013, in accordance with IFRS 11, Ambev has applied the equity method in replacement of proportional consolidation in joint ventures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Joint operations continue to be proportionally consolidated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;The following amounts represent Ambev share in these operations and have been included in the consolidated financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="MARGIN: 0in 0in 0pt">

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD width="68%"></TD>

   <TD width="15%" align=right>

   <P align=right><STRONG><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">09/30/2013</FONT></STRONG></P></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><STRONG><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">12/31/2012</FONT></STRONG></TD></TR>

<TR>

   <TD width="68%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Current assets</FONT></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">105,922</FONT></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">117,288</FONT></TD></TR>

<TR>

   <TD width="68%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Non-current assets</FONT></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">257,134</FONT></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">248,931</FONT></TD></TR>

<TR>

   <TD width="68%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Current liabilities</FONT></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">240,741</FONT></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">229,572</FONT></TD></TR>

<TR>

   <TD width="68%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Non-current liabilities</FONT></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">281,644</FONT></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">300,898</FONT></TD></TR>

<TR>

   <TD width="68%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Result from operations</FONT></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">32,114</FONT></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">35,350</FONT></TD></TR>

<TR>

   <TD width="68%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Income attributable to shareholders</FONT></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">13,263</FONT></TD>

   <TD width="2%" align=right></TD>

   <TD width="15%" align=right><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">16,750</FONT></TD></TR></TABLE></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">23. EVENTS AFTER THE BALANCE SHEET DATE</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(i) On October 2013, the subsidiary Ambev received an assessment related to the goodwill amortization from Beverage Associates Holding LTD. (&#8220;BAH&#8221;) merge, a company that held an indirect interest in Quilmes. Ambev has until November 7, 2013 to present administrative appeal. Ambev considers the likelihood of loss of R $ 1.1 billion related to this assessment as possible and, therefore, has not recorded any provision for this purpose.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(ii) On October 30, 2013, Ambev S.A. obtained its registration as a public company with the Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM in Brazil.&nbsp; As a result and as previously disclosed, the Company will now list its shares (and respective ADSs) on the BM&amp;FBovespa S.A. &#8211; Bolsa de Valores Mercadorias e Futuros and on the New York Stock Exchange, which is expected to take place during November 2013.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">***</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P></DIV>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">SIGNATURE</FONT></FONT></FONT></DIV><FONT style="FONT-SIZE: 9pt" face="Times New Roman"><BR></FONT>

<DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></FONT></DIV>

<DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</DIV>

<DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=justify></DIV>

<DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">Date:&nbsp;November 29, 2013</FONT></FONT></DIV>

<DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD vAlign=middle width="49%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="2%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="49%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD></TR>

<TR>

   <TD vAlign=middle width="49%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="51%" colSpan=2 align=left>

   <DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt">AMBEV S.A. </FONT></DIV></TD></TR>

<TR>

   <TD vAlign=middle width="49%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="2%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="49%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD></TR>

<TR>

   <TD vAlign=middle width="49%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="2%" align=left>

   <DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt">By:&nbsp; </FONT></DIV></TD>

   <TD style="BORDER-BOTTOM: black 2px solid" vAlign=middle width="49%" align=left>

   <DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt">/s/ <FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt">Nelson Jose Jamel</FONT></FONT></FONT></DIV></TD></TR>

<TR>

   <TD vAlign=middle width="51%" colSpan=2><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt">&nbsp; </FONT></TD>

   <TD vAlign=middle width="49%" align=left>

   <DIV style="TEXT-INDENT: 0pt; DISPLAY: block"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Nelson Jose Jamel</FONT></DIV>

   <DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left>

   <DIV style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt">Chief Financial and Investor Relations Officer</FONT></DIV></DIV></TD></TR></TABLE></DIV></DIV>

<DIV><FONT style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</DIV>

<DIV style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBRK>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
