<SEC-DOCUMENT>0001292814-16-005670.txt : 20160815
<SEC-HEADER>0001292814-16-005670.hdr.sgml : 20160815
<ACCEPTANCE-DATETIME>20160812181800
ACCESSION NUMBER:		0001292814-16-005670
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160630
FILED AS OF DATE:		20160815
DATE AS OF CHANGE:		20160812

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:		161829447

	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>ambevsaitr2q16_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>

<HTML>
<HEAD>
   <TITLE>ambevsaitr2q16_6k.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">



<HR align=left color=#000000 SIZE=4 noShade>



<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>

<HR align=center color=#000000 width="21%" noShade>



<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 August, 2016 </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>

<HR align=center color=#000000 width="21%" noShade>



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

<CENTER></CENTER>

<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">(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>

<HR align=left color=#000000 SIZE=2 noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name="page_1"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader1"></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 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">INTERIM CONSOLIDATED FINANCIAL STATEMENTS - AMBEV S.A.</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: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim </FONT></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidated 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 at June 30, 2016 and </FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">December 31, 2015</FONT></B></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 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 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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">5,729,655</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">13,620,161</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">263,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">215,106</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">303,139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,512,381</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Trade receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">3,445,761</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,165,670</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,403,950</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,338,172</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Income tax and social contribution recoverable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,491,891</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,398,655</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other taxes receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">740,756</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">796,317</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,182,472</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,268,027</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">18,561,517</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">28,314,489</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">87,790</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">118,628</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">15,415</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">51,376</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Income tax and social contributions recoverable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,493</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">557,377</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other taxes recoverable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">258,353</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">335,376</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,727,682</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,749,852</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,898,602</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,140,223</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">17,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">8,637</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Investments in associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">380,796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">714,925</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">18,259,924</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">19,140,087</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,800,948</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">5,092,198</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">10</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">29,644,103</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">30,953,066</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">58,095,195</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">61,861,745</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">76,656,712</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">90,176,234</FONT></B></P></TD></TR></TABLE></DIV>

<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 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>

<a name="_bclFooter1"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>1</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" 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_2"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader2"></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 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim </FONT></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidated 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 at June 30, 2016 and </FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">December 31, 2015</FONT></B></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 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 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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Equity and liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">8,094,481</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">11,833,689</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,207,820</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,673,010</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,665,114</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,282,573</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Bank overdrafts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">177,362</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,539</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Wages and salaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">687,957</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">915,542</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Dividends and interest on shareholder&#180;s equity payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,613,829</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">598,573</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Income tax and social contribution payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">723,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,245,298</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Taxes and contributions payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,663,133</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">3,096,798</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,942,958</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6,370,742</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">12</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">118,486</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">123,149</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">21,894,846</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">30,141,913</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">236,637</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">110,042</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">16,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">145,119</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,968,210</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,316,903</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,204,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,473,535</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Taxes and contributions payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">554,619</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">909,957</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,314,969</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,023,682</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">435,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">499,524</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,968,506</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,221,926</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">8,699,247</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">9,700,688</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">30,594,093</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">39,842,601</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Issued capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">57,614,140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">57,614,140</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Reserves</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">60,612,088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">62,574,774</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Carrying value adjustments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(76,698,126)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(71,857,031)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,772,905</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Equity attributable to equity holders of Ambev</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">44,301,007</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">48,331,883</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,761,612</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,001,750</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">46,062,619</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">50,333,633</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total equity and liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">76,656,712</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">90,176,234</FONT></B></P></TD></TR></TABLE></DIV>

<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 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; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 consolidated financial statements.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

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

<a name="_bclFooter2"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>2</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" 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_3"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader3"></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 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim Consolidated Income Statements</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the six and three-month periods ended June 30, 2016 and 2015</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; 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"><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="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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2 noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" colSpan=2 noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">21,942,302</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">20,678,795</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">10,377,204</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">9,910,002</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(7,854,921)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(7,388,458)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(3,894,605)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(3,774,650)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">14,087,381</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">13,290,337</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,482,599</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,135,352</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Distribution expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,972,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,698,706)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,457,812)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,308,463)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Sales and marketing expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(3,029,420)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,587,352)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,481,543)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,278,762)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,087,189)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,058,500)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(553,551)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(536,985)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other operating income/(expenses), net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">16</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">723,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">815,008</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">331,132</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">348,237</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">17</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(28,465)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(246,692)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(22,226)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(238,897)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Income from operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">7,692,831</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">7,514,095</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">3,298,599</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">3,120,482</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,529,448)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,364,195)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,035,991)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(592,250)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Finance income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">18</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">458,260</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">519,512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">136,108</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">229,262</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net finance cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,071,188)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(844,683)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(899,883)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(362,988)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">7,837</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">4,993</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">388</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">2,584</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,629,480</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,674,405</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,399,104</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,760,078</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">19</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(562,966)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,120,721)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(226,583)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(169,237)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,066,514</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,553,684</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,172,521</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,590,841</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Attributable to:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Equity holders of Ambev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">4,813,019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">5,319,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">2,046,154</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">2,508,656</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">253,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">234,365</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">126,367</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">82,185</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Basic earnings per share &#8211; common </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.34</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.16</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Diluted earnings per share&#8211; common </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.30</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.34</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">0.16</FONT></P></TD></TR></TABLE></DIV>

<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"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 consolidated financial statements.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter3"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>3</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" 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_4"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader4"></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 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim </FONT></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidated Statements of Comprehensive Income</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the six and three-month periods ended June 30, 2016 and 2015</FONT></B></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 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 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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2 noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2 noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,066,514</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,553,684</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,172,521</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,590,841</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Items that will not be reclassified to profit or loss:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Full recognition of actuarial gains/(losses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,336</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">579</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">489</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Items that may be reclassified subsequently to profit or loss:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Exchange differences on translation of foreign operations (gains/(losses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">

   <P style="TEXT-INDENT: 31.95pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Investment hedge in foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(23,331)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(214,109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(46,619)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">118,080</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">

   <P style="TEXT-INDENT: 31.95pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Investment hedge - put option </FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">granted on </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">712,346</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(201,085)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">352,457</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">458,043</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">

   <P style="TEXT-INDENT: 31.95pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Gains/losses on translation of other foreign operations </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(4,624,929)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,912,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(2,674,730)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(1,195,136)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">

   <P style="TEXT-INDENT: 31.95pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Gains/losses on translation of foreign operations </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(3,935,914)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,497,677</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(2,368,892)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(619,013)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cash flow hedge - gains/(losses)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Recognized in Equity (Hedge reserve)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(681,582)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">533,873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(308,191)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">19,273</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Removed from Equity (Hedge reserve) and included in profit or loss</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(518,640)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(351,504)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(243,725)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(218,531)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-INDENT: 36.15pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total cash flow hedge</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(1,200,222)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">182,369</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(551,916)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(199,258)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(5,134,984)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,681,382</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(2,920,229)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(817,782)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(68,470)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">7,235,066</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(747,708)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,773,059</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Attributable to:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Equity holders of Ambev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">125,178</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,832,025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(621,253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,807,422</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(193,648)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">403,041</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(126,455)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(34,363)</FONT></P></TD></TR></TABLE></DIV>

<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; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 consolidated financial statements. The interim consolidated statements of comprehensive income are presented net of income tax.</FONT></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><FONT style="LINE-HEIGHT: 108%" face="times new roman"></FONT>

<a name="_bclFooter4"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>4</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" 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_5"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader5"></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 0pt 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim </FONT></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidated Statements of Changes in Equity</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the six-month period ended June 30, 2016</FONT></B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"> </FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="52%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Attributable to equity holders of Ambev </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Capital </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Capital reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Net income reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Retained earnings </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Carrying value adjustments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-controlling interests</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At January 1, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,614,140</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,373,451</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">8,201,323</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(71,857,031)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">48,331,883</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,001,750</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">50,333,633</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Net Income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,813,019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,813,019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">253,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,066,514</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Losses on translation of foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(3,486,740)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(3,486,740)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(449,174)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(3,935,914)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,202,253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,202,253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,031</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,200,222)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Actuarial gains</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,152</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,813,019</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(4,687,841)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">125,178</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(193,648)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(68,470)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Put option</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman"> granted on</FONT><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"> subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(144,079)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(144,079)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(144,079)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Gains/(losses) of controlling interest&#180;s share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(9,175)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(9,175)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">53,674</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">44,499</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Dividends distributed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,040,800)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,040,800)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(100,164)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,140,964)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,039,171)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,039,171)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,039,171)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Acquired shares and result on treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">88,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">88,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">88,335</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Share-based payment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(11,850)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(11,850)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(11,850)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Prescribed dividends</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">686</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">686</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">686</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At June 30, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,614,140</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,449,936</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6,162,152</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,772,905</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(76,698,126)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">44,301,007</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,761,612</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">46,062,619</FONT></B></P></TD></TR></TABLE></DIV>

<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; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt 0pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 consolidated financial statements. The interim consolidated statements changes in equity are presented net of income tax.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<a name="_bclFooter5"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>5</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" 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_6"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader6"></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 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidated Statements of Changes in Equity (continued)</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the six-month period ended June 30, 2015</FONT></B></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="54%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Attributable to equity holders of Ambev </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Capital </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Capital reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Net income reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Retained earnings </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">Carrying value adjustments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-controlling interests</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At January 1, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,582,349</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">55,023,269</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,883,945</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(75,267,969)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">42,221,594</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,423,075</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">43,644,669</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Net Income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,319,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,319,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">234,365</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,553,684</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Gains on translation of foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,329,031</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,329,031</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">168,646</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,497,677</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">182,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">182,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">44</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">182,369</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Actuarial gain/(losses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(14)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,336</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,319,319</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,512,706</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6,832,025</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">403,041</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7,235,066</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Capital increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">31,791</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(22,685)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,106</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,106</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Dividends distributed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(90,745)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(90,745)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,979,854)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,513,517)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(4,493,371)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(4,493,371)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Acquired shares and result on treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(462,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(462,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(462,943)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Share-based payment</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">84,006</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">84,006</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">84,006</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At June 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,614,140</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,621,647</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,904,091</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,805,802</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(73,755,263)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">44,190,417</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,735,371</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">45,925,788</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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 consolidated financial statements. The interim consolidated statements changes in equity are presented net of income tax.</FONT></FONT></P><FONT style="LINE-HEIGHT: 108%; BACKGROUND: yellow" face="times new roman"></FONT>

<a name="_bclFooter6"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>6</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" 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_7"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader7"></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; LINE-HEIGHT: 108%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Interim </FONT></B></FONT><FONT style="LINE-HEIGHT: 108%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Consolidated Cash Flow Statements</FONT></B></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">For the six and three-month periods ended June 30, 2016 and 2015</FONT></B></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"><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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Net income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">5,066,514</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">5,553,684</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,172,521</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,590,841</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Depreciation, amortization and impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">1,747,666</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">1,435,449</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">883,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">763,924</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Impairment losses on receivables and inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">71,908</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">72,353</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">47,724</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">16,113</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Additions in provisions and employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">150,166</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">324,324</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">59,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">276,323</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Net finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,071,188</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">844,683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">899,883</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">362,988</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Gain/(losses) on sale of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(28,170)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">15,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(25,256)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,916</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Gain on sale of operations in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(23,845)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(23,845)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Equity-settled share-based payment expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">85,549</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">88,054</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">47,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">42,160</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">562,966</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">1,120,721</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">226,583</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">169,237</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Share of result of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(7,837)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(4,993)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(388)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(2,584)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Other non-cash items included in the profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(709,625)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(342,297)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(245,054)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(192,886)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext 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: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">9,010,325</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">9,083,539</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">4,066,760</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">4,005,187</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Increase/(decrease) in trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">638,122</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">204,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(383,433)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">30,038</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Increase/(decrease) in inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(410,975)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(520,130)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">272,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">224,742</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Increase/(decrease) in trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(4,506,477)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(605,542)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,483,097)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">83,046</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Cash generated from operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">4,730,995</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">8,162,125</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,472,797</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">4,343,013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Interest paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(464,309)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(331,709)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(318,534)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(96,552)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Interest received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">407,902</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">593,539</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">363,253</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">79,544</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Dividends received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">25,101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">12,456</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">5,277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">9,456</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Income tax paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(4,832,630)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,332,105)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(440,916)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(463,349)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Cash flow from operating activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(132,941)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">7,104,306</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,081,877</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">3,872,112</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext 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: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">48,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">17,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">33,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">10,429</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Proceeds from sale of subsidiaries operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">88,077</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">88,077</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Acquisition of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,858,539)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,906,618)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,151,255)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,187,161)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Acquisition of subsidiaries, net of cash acquired</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,832,871)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(244,044)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(137,743)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(195,958)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Acquisition of other investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(109,194)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(9,194)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext 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: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(39,490)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(90,770)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(61,451)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">252,159</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Net proceeds/(acquisition) of other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">104</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">1,766</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">17</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">1,725</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Cash flow from investing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(3,682,016)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(2,243,631)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,317,231)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,039,923)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Capital increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">9,873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">2,930</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Repurchase of treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(4,541)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(454,666)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(5,005)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(404,399)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Proceeds from borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">903,223</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">3,900,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">130,107</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">21,681</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Repayment of borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(535,530)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(4,990,858)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(308,008)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(147,777)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Cash net of finance costs other than interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,936,963)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(426,126)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(794,192)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(576,038)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Payment of finance lease liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,557)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,384)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(750)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(854)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Dividends and Interest on shareholder&#180;s equity paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(2,186,030)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(6,589,565)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(86,381)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,627,753)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Cash flow from financing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(3,761,398)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(8,551,855)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(1,064,229)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(2,732,210)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Net increase/(decrease) in cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(7,576,355)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(3,691,180)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(299,583)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">99,979</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Cash and cash equivalents less bank overdrafts at beginning of year <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">13,617,622</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">9,622,978</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">6,007,322</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">6,779,730</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">Effect of exchange rate fluctuations </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(488,974)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">775,760</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(155,446)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">(172,151)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=black face="times new roman">Cash and cash equivalents less bank overdrafts at end of year <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">5,552,293</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">6,707,558</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">5,552,293</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8.5pt" color=windowtext face="times new roman">6,707,558</FONT></B></P></TD></TR></TABLE></DIV>

<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"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face=Arial,sans-serif>&nbsp;</FONT><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">(i) Net of bank overdrafts.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 108%"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="Times New Roman">The accompanying notes are an integral part of these interim </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="Times New Roman">consolidated financial statements</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="Times New Roman">.</FONT></FONT></P>

<a name="_bclFooter7"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>7</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_8"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader8"></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; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Notes to the interim consolidated financial statements:</FONT></B></FONT></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: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">1.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Corporate information</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">2.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Statement of compliance</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">3.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Summary of significant accounting practices</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">4.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Use of estimates and judgments</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">5.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Cash and cash equivalents</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">6.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Investment securities </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">7.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Inventories</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">8.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Deferred income tax and social contribution</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">9.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Property, plant and equipment</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">10.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Goodwill</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">11.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Interest-bearing loans and borrowings</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">12.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Provisions</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">13.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Changes in equity</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">14.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Segment reporting</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">15.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Net Sales</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">16.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Other operating income/(expenses)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">17.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Exceptional items</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">18.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Finance cost and income</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">19.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Income tax and social contribution </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">20.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Share-based payments</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">21.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Financial instruments and risks</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">22.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Collateral and contractual commitments, advances from customers and other</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">23.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Contingencies</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">24.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Acquisition of subsidiaries</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">25.</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Non-cash items</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">26.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Related parties</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">27.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="90%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: char; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" color=windowtext face="times new roman">Events after the reporting period</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter8"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>8</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_9"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader9"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">&nbsp;</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Description of business</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev S.A. (</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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;),</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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, by participating either directly or indirectly in other Brazilian-domiciled companies and elsewhere in the Americas. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></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 Company&#8217;s shares and ADRs (American Depositary Receipts) are listed on the Stock Exchange and Mercantile &amp; Futures Exchange (BM&amp;FBOVESPA S.A.) as &#8220;ABEV3&#8221; and on the New York Stock Exchange (NYSE) as &#8220;ABEV&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s direct controlling shareholders are Interbrew International B.V. (&#8220;IIBV&#8221;), AmBrew S.A. (&#8220;Ambrew&#8221;), both subsidiaries of Anheuser-Busch InBev N.V/S.A. (&#8220;ABI&#8221;) and Funda&#231;&#227;o Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefic&#234;ncia (&#8220;Funda&#231;&#227;o Zerrenner&#8221;).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The interim financial statements</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> were approved by the Board of Directors on July 27, 2016.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Major corporate events in 2015 and 2016:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On May, 2016, Ambev S.A. and its controlling shareholder Anheuser-Busch InBev SA/NV (&#8220;AB InBev&#8221;) had entered into an agreement pursuant to which the Company has agreed to transfer its business in Colombia, Peru and Ecuador to AB InBev, in exchange for which AB InBev has agreed to transfer the current SABMiller&#8217;s Panamanian business (&#8220;SABMiller&#8221;) to the Company (&#8220;Transaction&#8221;). The consummation of the Transaction are conditional on the prior implementation of the proposed combination of SABMiller and AB InBev&#8217;s activities announced on November 11<SUP>st</SUP>, 2015, in addition to other customary closing conditions.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On January, 2016, the Company, through its&nbsp;wholly-onwed subsidiary Labatt Breweries, in Canada, acquired the company Archibald Microbrasserie, known for its local beers and seasonal specialties. Furthermore, in Brazil, closed a transaction through which holds control of the company Sucos do Bem, which has a range of juices, teas and cereal bars. The acquisition amounts were approximately R$66 million and R$89 million, respectively. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">On January, 2016, Ambev S.A. through its&nbsp;wholly-onwed subsidiaries, CRBS S.A. and Ambev Luxembourg, closed a transaction which acquired the rights to a range of primarily spirit&shy;based beers and ciders from Mark Anthony Group, by R$1.4 billion.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">During 2015 the Company, through its subsidiaries, effected&nbsp;the purchase of companies like Wals (&#8220;Tropical Juice&#8221;), Colorado (&#8220;Beertech Bebidas&#8221;), Bogota Beer Company (&#8220;BBC&#8221;), Cervecer&#237;a BBC SAS (&#8220;Cerveceria BBC&#8221;), Mill Street Brewery (&#8220;Mill St. Brewery&#8221;) and Banks </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Holdings Limited (&#8220;BHL&#8221;). Along with Whirpool has&nbsp;initiated&nbsp;the&nbsp;setting-up of the one joint venture, named B. Blend, being&nbsp;the first platform beverages in capsules all-in-one of the world.</FONT></FONT></P>

<a name="_bclFooter9"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>9</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_10"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader10"></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; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The main acquisitions details are disclosed in Note 24 - Acquisitions of subsidiaries.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; 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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; 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, 2015. To avoid duplication of disclosures which are included in the annual financial statements, the following notes were not subject to full filling:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(a) Summary of significant accounting policies (Note 3);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b) Payroll and related benefits (Note 9);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c) Additional information on operating expenses by nature (Note 10);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d) Intangible assets (Note 15);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(e) Trade receivables (Note 19);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(f) Changes in equity (Note 21);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(g) Interest-bearing loans and borrowings (Note 22);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(h) Employee benefits (Note 23);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(i) Trade payables (Note 25);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(j) Operating leases (Note 28); </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(k) Contingencies (Note 30);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(l) Group Companies (Note 33);</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(m) Insurance (Note 34).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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 PRACTICES</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">There were no significant changes in accounting policies and calculation methods used for the interim financial statements as of June 30, 2016 &nbsp;in relation to those presented in the financial statements for the year ended December 31, 2015.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

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

<a name="_bclFooter10"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>10</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_11"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader11"></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: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Basis of preparation and measurement</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The interim </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">financial statements are presented in </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">thousands</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> of Brazilian Reais (&#8220;R$&#8221;), </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">unless otherwise indicated, rounded to the nearest thousand indicated</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. Depending on the applicable IFRS requirement, the measurement basis used in preparing the 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 of acquisition approach is applied.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Recently issued IFRS</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The reporting standards below were published and are mandatory</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> for future annual </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">reporting </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">periods</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. There were no early adoption of standards and amendments to standards however the Company is in the evaluation phase of the revised standards and does not expect significant impacts.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 9 Financial Instruments: </FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The IFRS 9, which will replace IAS 39, introduces new requirements for classification, measurement and write-off of financial assets and liabilities. In this new standard the basis of classification depends on the entity&#8217;s business model and the contractual cash flow characteristics of the financial instruments. Also introduces a new hedge accounting model and impairment test for financial instruments. IASB issued IFRS 9, which will be effective for annual periods beginning on or after January 1<SUP>st</SUP>, 2018, with early adoption permitted.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 15 Revenue from Contracts with Customers: </FONT></I></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">IFRS 15 requires revenue recognition to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. IASB issued IFRS 15, which will be effective for annual periods beginning on or after January 1</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">st</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">, 2018, with earlier adoption permitted.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 16 &#8211; Leases:</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">The IFRS 16, which supersedes IAS 17, introduces a new accounting recognition for the lessee and will require the recognition of the right to use and a lease liability for all leases with a term of more than twelve months, with rare exceptions. IASB issued IFRS 16, which will be effective for annual periods beginning on or after January 1</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-NZ color=black face="times new roman">st</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">, 2019, with earlier adoption permitted.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter11"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>11</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_12"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader12"></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>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Other standards, interpretations and amendments to standards </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Other new standards, amendments and interpretations mandatory to the financial statements for annual periods beginning after January 1</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">st</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">, 2016 were not listed above because of either their non-applicability to or their immateriality to Ambev S.A.&#8217;s consolidated financial statements.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">4. USE OF ESTIMATES AND JUDGMENTS</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">The preparation of interim financial statements in conformity with IFRS requires Management to make judgments, estimates and assumptions that affect the application of accounting practices 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 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></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">The estimates and assumptions are reviewed on a regular basis. Changes in accounting estimates may affect the period in which they are realized, or future periods.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">Although each of its significant accounting policies reflects judgments, assessments or estimates, the Company believes that the following accounting practices reflect the most critical judgments, estimates and assumptions that are important to its business operations and the understanding of its results: </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(i) predecessor basis of accounting;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(ii) business combinations;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(iii) impairment;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(iv) provisions;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(v) share-based payments;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(vi) employee benefits;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(vii) current and deferred tax;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(viii) joint arrangements; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman">(ix) measurement of financial instruments, including derivatives.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter12"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>12</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_13"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader13"></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="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">5. CASH AND CASH EQUIVALENTS</FONT></B></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">99,659 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">457,176 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Current bank accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,844,501 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">4,628,116 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Short term bank deposits <SUP>(i)</SUP></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">3,785,495 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">8,534,869 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,729,655 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">13,620,161 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Bank overdrafts</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(177,362)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(2,539)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cash and cash equivalents less bank overdraft</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,552,293 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">13,617,622 </FONT></B></P></TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(i) The balance refers mostly to Bank Deposit Certificates - CDB, high liquidity, which are readily convertible into known amounts of cash and which are subject to an insignificant risk of change in value.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">6. </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">INVESTMENT SECURITIES</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Financial asset at fair value through profit or loss-held for trading</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">263,893</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">215,106</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Current investments securities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">263,893</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">215,106</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Debt held-to-maturity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">87,790</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">118,628</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-current investments securities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">87,790</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">118,628</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">351,683</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">333,734</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">7. INVENTORIES </FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="58%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Finished goods </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,753,703</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,572,536</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Work in progress</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">354,983</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">304,726</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Raw material</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,857,869</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,857,351</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Consumables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">61,402</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">50,542</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Spare parts and other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">403,515</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">420,435</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Prepayments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">80,727</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">239,357</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(108,249)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(106,775)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,403,950</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,338,172</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$31,730 in the period of six-months</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> ended in June</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> 30, 2016 (R$16,053 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in the period of six-months </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ended in June</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> 30, 2015).</FONT></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">8. DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 interim 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 </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">tax and 9% for social contribution. For the other regions, with operational activity, applied rates, are as follow:</FONT></FONT></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>13</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

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




<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="67%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">Central America and the Caribbean</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="33%">

   <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: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="67%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">Latin America</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="33%">

   <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: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="67%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=windowtext face="times new roman">Canada</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="33%">

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available to be used to offset temporary differences / loss carry forwards based on projections of future results prepared and based on internal assumptions and future economic scenarios which may therefore change.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Assets </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Liabilities </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Net </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Assets </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Liabilities </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Net </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">9,121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">9,121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">9,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">9,058</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">2,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(736,576)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(734,302)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">5,827</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(774,637)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(768,810)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">408,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">408,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">570,259</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">570,259</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Trade payables - exchange rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,033,714</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(460,057)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">573,657</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">2,138,413</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(357,108)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,781,305</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Trade receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">39,387</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">39,387</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">38,474</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">38,474</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">76,801</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(57,298)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">19,503</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">59,323</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(131,733)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(72,410)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(563)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(563)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(685)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(685)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">172,515</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(16,881)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">155,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">223,465</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(66,444)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">157,021</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">38,481</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(745,429)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(706,948)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(737,271)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(737,271)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" color=black face="times new roman">Withholding tax over undistributed profits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(976,501)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(976,501)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; 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; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(1,027,638)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(1,027,638)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">456,053</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">456,053</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Loss carryforwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,379,904</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,379,904</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">308,380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">308,380</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">242,025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(60,985)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">181,040</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">251,247</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(31,995)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">219,252</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" color=black face="times new roman">Complement of income tax of foreign subsidiaries due in Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(31,334)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(31,334)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Other items</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(250,144)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(250,144)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(200,618)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(200,618)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Gross deferred tax assets / (liabilities)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">3,858,693</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(3,335,768)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">522,925</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">3,604,446</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(3,328,129)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">276,317</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Netting by taxable entity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(1,131,011)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,131,011</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(854,594)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">854,594</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Net deferred tax assets / (liabilities)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">2,727,682</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(2,204,757)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">522,925</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">2,749,852</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">(2,473,535)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">276,317</FONT></B></P></TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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></FONT></P>

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

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

<a name="_bclFooter14"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>14</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_15"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader15"></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="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">At June 30, 2016 the assets and liabilities deferred taxes related to combined tax losses has an expected utilization/settlement by temporary differences as follows:</FONT></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Deferred taxes not related to tax losses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">to be realized until 12 months</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">to be realized after 12 months</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,121</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(734,302)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(734,302)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">14,020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">394,398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">408,418</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Trade payables - exchange rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">755,543</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(181,886)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">573,657</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Trade receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">38,644</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">743</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">39,387</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">19,503</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">19,503</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(563)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(563)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">155,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">155,634</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(74,858)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(632,090)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(706,948)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Withholding tax over undistributed profits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(976,501)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(976,501)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">456,053</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">456,053</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Complement of income tax of foreign subsidiaries due in Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(31,334)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(31,334)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">44,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">136,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">181,040</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Other items</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(20,063)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(230,081)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(250,144)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,338,267</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,195,246)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(856,979)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Deferred tax related to tax losses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,220,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">18,049</FONT></P></TD></TR>

<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">26,301</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">25,504</FONT></P></TD></TR>

<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">23,219</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">21,400</FONT></P></TD></TR>

<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">28,427</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">26,200</FONT></P></TD></TR>

<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">Apart from 2020 <SUP>(i)</SUP></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">81,648</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">217,227</FONT></P></TD></TR>

<TR style="HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,379,904</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">308,380</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(i) There is no expected realization that exceed the period of 10 years.</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As at June 30, 2016, deferred tax assets in the amount of R$777,790 (R$902,053 as at December 31, 2015) related to tax losses from previous periods and temporary differences of subsidiaries abroad were not recorded as the realization is not probable.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The expiration term of these assets is five years on average and the tax losses carried forward in relation to them are equivalent to R$3,174,665 in June 30, 2016 (R$4,103,602 in December 31, 2015).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The net change in deferred income tax and social contribution is detailed as follows:</FONT></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">276,317</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Investment hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(12,019)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Investment hedge - put option </FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">granted on </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(366,966)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Cash flow hedge - gains/(losses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">587,896</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Gains/(losses) on translation of other foreign operations </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(571,738)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Recognized in other comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(362,827)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Recognized in income statement</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">609,435</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="85%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Balance at June 30, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">522,925</FONT></B></P></TD></TR></TABLE></DIV>

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

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

<a name="_bclFooter15"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>15</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_16"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader16"></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="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">9. PROPERTY, PLANT AND EQUIPMENT</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="57%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Land and buildings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Plant and equipment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Fixtures and fittings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Under construction</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Acquisition cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">7,718,322</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">22,369,559</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,465,058</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,132,647</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">36,685,586</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">30,377,735</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; 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: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(467,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,454,610)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(410,674)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(194,982)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,527,661)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,059,121</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Acquisitions through business combinations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">190,479</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">222,358</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">54,443</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(891)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">466,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">123,468</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Sale through business combinations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(145,869)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Acquisitions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">6,772</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">370,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">174,697</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,256,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,808,423</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,291,085</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(5,256)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(272,570)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(60,541)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,981)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(340,348)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(833,138)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">532,653</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">639,388</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">343,271</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,616,928)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(101,616)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(186,704)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(112)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">7,975,575</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">21,874,208</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,566,254</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,574,736</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">35,990,773</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">36,685,586</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation and Impairment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,243,997)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(12,562,469)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,739,033)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,545,499)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(14,637,677)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Foreign exchange effects</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">99,072</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">783,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">224,321</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,107,074</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,066,722)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Disposals through business combinations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">91,561</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Depreciation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(137,498)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,064,625)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(337,604)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,539,727)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,717,750)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(53,636)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(53,640)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(110,618)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">241,598</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">57,568</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">300,039</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">762,474</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,965)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,870</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">904</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">117,593</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">15,640</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,281,551)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(12,658,416)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,790,882)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,730,849)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,545,499)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Carrying amount:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">December 31, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,474,325</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,807,090</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,726,025</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,132,647</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">19,140,087</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">19,140,087</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">June 30, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,694,024</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,215,792</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,775,372</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,574,736</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">18,259,924</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Leases, capitalizes interests and fixed assets provided as security are not material.</FONT></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

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

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">30,953,066</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">27,502,944</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,224,255)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,858,515</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Acquisitions through business combinations <SUP>(i)</SUP></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">915,292</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">591,607</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Balance at the end of year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,644,103</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">30,953,066</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></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">(i) It refers mainly to the acquisition of Mark Anthony, as presented in Note 24 - </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">Acquisitions of subsidiaries</FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">.</FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<a name="_bclFooter16"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>16</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_17"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader17"></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="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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 as follows</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">:</FONT></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="44%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=#000000 face="times new roman">Functional currency</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=#000000 face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=#000000 face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">LAN:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">BRL</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">17,456,811</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">17,414,848</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">102,699,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">102,657,481</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-controlling transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(85,242,633)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(85,242,633)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Dominican Republic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">DOP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">3,117,260</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">3,838,899</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Cuba <SUP>(ii)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">USD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">3,579</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,354</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">LAS:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">ARS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">541,896</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">756,309</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Bolivia</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">BOB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,135,374</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,381,210</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Chile</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">CLP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">42,442</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">48,293</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Colombia</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">COP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">147,140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">165,850</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Ecuador</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">USD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,084</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6,018</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Paraguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">PYG</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">767,112</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">898,550</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Peru</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">PEN</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,402</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">63,545</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">UYU</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">155,838</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">193,372</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">NA:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Canada</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">CAD</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6,217,165</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6,181,818</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,644,103</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">30,953,066</FONT></B></P></TD></TR></TABLE></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">(ii) The functional currency of Cuba, the Cuban convertible peso (CUC), has a fixed parity with the dollar (USD) at balance sheet date.</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">11. INTEREST-BEARING LOANS AND BORROWINGS</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Secured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">895,849</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">320,004</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Unsecured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">738,344</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">925,859</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other unsecured loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,909</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">34,275</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Financial leasing</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,012</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,435</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,665,114</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,282,573</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Secured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">593,853</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">672,596</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Unsecured bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">856,481</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,076,008</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Debentures and unsecured bond issues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">390,049</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">374,372</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Other unsecured loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">103,035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">163,485</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Financial leasing</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">24,792</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">30,442</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,968,210</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,316,903</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Additional information regarding the exposure of the Company to the risks of interest rate and foreign currency are disclosed on Note 21 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company's debt was structured in a manner to avoid significant concentration of maturities in each year and tied to different interest rates.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company's loans have equal rights to payment without subordination clauses. Except for the credit lines due to FINAME contracted by the Company with BNDES, in which collateral was </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">provided on assets acquired with the credit granted which serve as collateral; other loans and financing contracted by the Company provide only guarantees as collateral of other companies of the group. The loan contracts contain financial covenants, such as: guarantee of the existence of the Company; maintenance, in use or in good condition for the business of the Company's properties; limitation to perform transactions of acquisition, merger, sale or disposal of its assets; disclosure of financial statements and balance sheets.</FONT></FONT></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>17</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As of June 30, 2016, the Company was in compliance with all its contractual obligations for its loans and financings.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

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

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Balance as of </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">December 31, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Effect of changes in</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">foreign exchange</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">rates</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Additions</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Provisions used</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">and reversed</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Balance as of</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">June 30, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Restructuring</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">10,039</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,025)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,342)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7,672</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Contingencies</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Civil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">31,530</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(2,510)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">46,767</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(26,376)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">49,411</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Taxes on sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">38,372</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(72)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">264,357</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(273,196)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,461</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">184,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">437</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">8,707</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(59,712)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">133,521</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">179,761</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(5,003)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">85,230</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(82,543)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">177,445</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">178,882</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(26,978)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">43,709</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(39,225)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">156,388</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">612,634</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(34,126)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">448,770</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(481,052)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">546,226</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">622,673</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(35,151)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">448,770</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(482,394)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">553,898</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><FONT style="LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Disbursement expectative</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Balance as of June 30, 2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">1 year or less</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">1-2 years</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">2-5 years</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Over 5 years</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Restructuring</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7,672</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6,903</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">769</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Contingencies</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Civil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">49,411</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,249</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">38,280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">730</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Taxes on sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,461</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,410</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">17,855</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">257</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,939</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">133,521</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">30,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">17,657</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">85,283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">177,445</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">40,635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">69,219</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12,802</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">156,388</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">25,708</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">92,417</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">32,640</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5,623</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">546,226</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">111,583</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">235,428</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">178,121</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">21,094</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Total provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">553,898</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">118,486</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">236,197</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">178,121</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">21,094</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The expected settlement of provisions was based on management&#8217;s best estimate at the balance sheet date.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>18</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(a) Sales taxes</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b) Labor</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 labor proceedings with former employees or former employees of service providers. The main issues involve overtime and related effects and respective charges.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 mostly claiming damages resulting from the termination of their contracts.</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Contingencies</FONT></I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">13. CHANGES IN EQUITY</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands of common shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands of Real</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands of common shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands of Real</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Beginning balance as per statutory books</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15,717,615</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,614,140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15,712,619</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,582,349</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Share issued</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,996</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">31,791</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15,717,615</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,614,140</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15,717,615</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">57,614,140</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" 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; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b) Capital reserves</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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="48%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Capital Reserves </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Treasury shares </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Share Premium </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other capital reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Share-based Payments </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At January 1, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,003,508)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">53,662,811</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">700,898</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,013,250</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,373,451</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Acquiree shares and result on treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">88,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">88,335</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Share-based payments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(11,850)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(11,850)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At June 30, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(915,173)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">53,662,811</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">700,898</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,001,400</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,449,936</FONT></B></P></TD></TR></TABLE></DIV>

<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><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter19"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>19</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_20"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader20"></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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=#000000 face="times new roman">Capital Reserves</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Treasury shares </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Share Premium </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Others capital reserves </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Share-based Payments </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At January 1, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(172,761)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">53,662,811</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">700,898</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">832,321</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">55,023,269</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Capital Increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(13,757)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(8,928)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(22,685)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Acquiree shares and result on treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(462,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(462,943)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Share-based payments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">84,006</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">84,006</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At June 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(649,461)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">53,662,811</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">700,898</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">907,399</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">54,621,647</FONT></B></P></TD></TR></TABLE></DIV>

<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="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b.1) Treasury shares</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The treasury shares comprise own issued shares reacquired by the Company and the result on treasury shares that refers to gains and losses related to share-based payments transactions and others.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Follows the changes of treasury shares:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="37%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="63%" colSpan=7 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="37%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="31%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Acquire /realization shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Result on Treasure Shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Total Treasure Shares</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="37%">&nbsp;</TD>

   <TD vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands Brazilian Real</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Thousands Brazilian Real</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Beginning balance</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">32,521</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(617,407)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(386,101)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,003,508)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Changes during the year</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(13,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">254,898</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(166,563)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">88,335</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At the end of the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">19,126</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(362,509)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(552,664)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(915,173)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b.2) Share premium</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The share premium refers to the difference between subscription price that the shareholders paid for the shares and theirs nominal value. Since this is a capital reserve, it can only be used to increase capital, offset losses, redeem, reimburse or repurchase shares.</FONT></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b.3) Share-based payment</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 S.A. economic group to receive or acquire shares of the Company. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The share-based payment reserve recorded a charge of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$85,549 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">at June 30, 2016 (</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$88,054 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">at June 30, 2015) (Note 20 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Share-based payments</FONT></I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(c) Net income reserves</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: none transparent scroll repeat 0% 0%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="60%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Net income reserves</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Investment reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Statutory reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Fiscal incentive </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest on capital and dividends proposed </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At January 1, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,141,424</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,016,272</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,039,171</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">8,201,323</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(2,039,171)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(2,039,171)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At June 30, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,141,424</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,016,272</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6,162,152</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: none transparent scroll repeat 0% 0%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B></FONT>&nbsp;</P>

<a name="_bclFooter20"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>20</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_21"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader21"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="40%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="60%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net income reserves</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="40%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Investment reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Statutory reserve </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Fiscal incentive </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Interest on capital and dividends proposed </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At January 1, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">498,485</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,872,633</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,508,371</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,883,945</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(471,483)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(1,508,371)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">(1,979,854)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">At June 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">27,002</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,872,633</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">2,904,091</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">From net income after deductions applicable, will be aimed no more than 60% (sixty per cent) to investment reserve in order to support future investments.</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">The Company has tax incentives framed in certain state and federal industrial development programs in the form of financing, deferred payment of taxes or partial reductions of the amount due. These state programs aim to promote the expansion of employment generation, regional decentralization, complement and diversify the industrial base of the States. In these states, the grace periods, enjoyment and reductions are permitted under the tax law.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="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, 2016, and are therefore not available as a basis for distribution of dividends, is composed of:</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">ICMS (Brazilian State value added) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">724,082</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">514,570</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Income tax </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">101,451</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">89,888</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="70%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">825,533</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">604,458</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(c.4) Interest on shareholders&#8217; equity / Dividends</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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, in accordance with the applicable law and, when distributed, may be considered part of the minimum mandatory dividends.</FONT></FONT></P>

<a name="_bclFooter21"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>21</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_22"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader22"></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>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">As determined by its By-laws, the Company is required to distribute to its shareholders, as a minimum 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 S.A.&#8217;s financial situation. The minimum mandatory dividend includes amounts paid as interest on shareholder&#8217;s equity.</FONT></FONT></P>

<P style="MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Events during six-month period ended </FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">June 30</FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, 2016:</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amount per share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">01/15/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">02/29/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">0.1300</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,039,171</FONT></P></TD>

   <TD vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">06/24/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">07/29/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">0.1300</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,040,800</FONT></P></TD>

   <TD vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">&nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,079,971</FONT></B></P></TD>

   <TD vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></B></P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Events during six-month period ended </FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">June 30</FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, 2015:</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amount per share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">02/23/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">03/31/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">2014</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">0.0300</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">471,483 </FONT></P></TD>

   <TD vAlign=bottom width="2%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"><SUP>(i)</SUP></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">02/23/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">03/31/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">0.0600</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">942,966</FONT></P></TD>

   <TD vAlign=bottom width="2%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">05/13/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">06/29/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">0.1000</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,570,551</FONT></P></TD>

   <TD vAlign=bottom width="2%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,985,000</FONT></B></P></TD>

   <TD vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 115%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.5in">&nbsp;</H5>

<a name="_bclFooter22"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>22</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_23"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader23"></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>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.5in"><B><FONT style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(d) Carrying value adjustments</FONT></B></H5>

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

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Carrying value adjustments </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Translation</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow hedge</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Actuarial gains/ losses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Put option</FONT></B><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"> granted on</FONT></B><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"> subsidiary</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/losses of non-controlling interest&#180;s share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Business combination</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Accounting adjustments for transactions between shareholders </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At January 1, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,472,291</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">932,109</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,131,499)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,246,679)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,123,565</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">156,091</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75,162,909)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(71,857,031)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains/(losses) on translation of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,486,740)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,486,740)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,202,253)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,202,253)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Actuarial gains / (losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,152</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,152</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,486,740)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,202,253)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,152</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(4,687,841)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Put option</FONT><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=black face="times new roman"> granted on</FONT><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"> subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(144,079)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(144,079)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains / (losses) of controlling interest&#180;s share</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(9,175)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(9,175)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At June 30, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(14,449)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(270,144)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,130,347)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,390,758)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,114,390</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">156,091</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75,162,909)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(76,698,126)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Carrying value adjustments </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Translation </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow hedge</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Actuarial gains/ losses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Put option</FONT></B><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"> granted on</FONT></B><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"> subsidiary</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/losses of non-controlling interest&#180;s share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Business combination</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Accounting adjustments for transactions between shareholders </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At January 1, 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">453,357</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">265,957</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,109,129)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,057,281)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,110,064</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">156,091</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75,087,028)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75,267,969)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains/(losses) on translation of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,330,225</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,194)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,329,031</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">182,325</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">182,325</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Actuarial gain</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,350</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,350</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,330,225</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">182,325</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,350</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,194)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,512,706</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At June 30, 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,783,582</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">448,282</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,107,779)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,057,281)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,110,064</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">156,091</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75,088,222)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(73,755,263)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" 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: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=windowtext face="Times New Roman">The carrying value adjustments amounts are presented net of income tax. </FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in">&nbsp;</H5>

<a name="_bclFooter23"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>23</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_24"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader24"></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>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(d.1) Translation reserves</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 interim financial statements with a functional currency different from the Real.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The translation reserves also comprise the portion of the gain or loss on the foreign currency liabilities and on the derivative financial instruments determined to be effective net investment hedges in conformity with IAS&nbsp;39 </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial Instruments: Recognition and Measurement </FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">hedge accounting rules.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(d.2) Cash flow hedge reserves</FONT></B></H5>

<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>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 (For additional information, see Note 21 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks)</FONT></I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 12pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d.3) Actuarial gains and losses</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 monthly basis the results of these estimated actuarial gains and losses according to the expectations presented based on an independent actuarial report.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 12pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d.4) </FONT></B><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">Put option</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"> granted on</FONT></B><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"> subsidiary</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 S.A. 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 S.A. of the remaining shares of CND, for a value based&nbsp; on EBITDA from operations,&nbsp; the &#8220;put&#8221; exercisable annually until 2019 and the &#8220;call&#8221; from 2019. On June 30, 2016 the put option held by ELJ is valued at R$4,785,671 and the liability categorized as &#8220;Level 3&#8221;, as the Note 21 (b) and in accordance with the IFRS 3. No value has been assigned to the call option held by the Company. 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 this option are presented as Note </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">21 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks.</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As part of the agreement to acquire the remaining shares of the company Sucos do Bem agreement, corresponding to 34%, the Company has a call option determined by gross revenue of its products and exercisable from 2019. On June 30, 2016 the option is valued at R$122,895.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<a name="_bclFooter24"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>24</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_25"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader25"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As part of the acquisition agreement of all shares of the company Tropical Juice, the Company has a call option exercisable from 2018. On June 30, 2016 the option is valued at R$23,380.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 12pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(d.5) Accounting for acquisition of non-controlling interests</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In transactions with non-controlling interests of the same business, even when performed&nbsp;at arm's length terms, that present valid economic grounds and reflect normal market conditions, will be consolidated by the applicable accounting standards as occurred within the same accounting entity.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">As determined by IAS 27 &#8211; Consolidated and Separate Financial Statements, in paragraph 30 and 31, any difference between the amount paid (fair value) for the acquisition of non-controlling interests and are related to carrying amount of such non-controlling interest shall be recognized directly in controlling shareholders&#8217; equity. The acquisition of non-controlling interest related to Old Ambev, the above mentioned adjustment was recognized in the Carrying value adjustments if applicable. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter25"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>25</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_26"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader26"></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="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">14. SEGMENT REPORTING</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Segment information is presented in thousands</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> of Brazilian Reais (R$).</FONT></FONT></P>

<P style="LINE-HEIGHT: 115%; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 10pt 21.3pt"><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(a)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Reportable segments &#8211; six-month periods ended in:</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Latin America - north <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Latin America - south<SUP> (ii)</SUP></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Canada</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Consolidated</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">13,809,447</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">13,323,971</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">4,787,291</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">4,782,442</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,345,564</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">2,572,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">21,942,302</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">20,678,795</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(4,989,291)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(4,691,801)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,772,338)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,876,584)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,093,292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(820,073)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(7,854,921)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(7,388,458)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">8,820,156</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">8,632,170</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,014,953</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">2,905,858</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">2,252,272</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,752,309</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">14,087,381</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">13,290,337</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Distribution expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,897,108)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,742,944)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(473,741)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(447,842)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(602,094)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(507,920)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,972,943)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,698,706)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Sales and marketing expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,826,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,625,751)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(648,137)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(559,303)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(554,737)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(402,298)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(3,029,420)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,587,352)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(734,045)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(722,272)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(200,097)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(215,410)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(153,047)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(120,818)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,087,189)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,058,500)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Other operating income/(expenses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">779,064</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">814,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(43,385)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,073)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(12,212)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">2,101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">723,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">815,008</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(8,508)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(14,817)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(7,999)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(28,465)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(246,692)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Income from operations (EBIT)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,129,563</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,124,308</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,641,085</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,666,413</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">922,183</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">723,374</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">7,692,831</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">7,514,095</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Net finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,058,172)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(775,476)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(245,268)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(281,540)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">232,252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">212,333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,071,188)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(844,683)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Share of result of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">6,879</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">958</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(118)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">7,837</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">4,993</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,078,270</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">4,353,943</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,395,817</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,384,873</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,155,393</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">935,589</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,629,480</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">6,674,405</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">49,304</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(464,662)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(366,243)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(409,939)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(246,027)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(246,120)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(562,966)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,120,721)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,127,574</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,889,281</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,029,574</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">974,934</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">909,366</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">689,469</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,066,514</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,553,684</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Normalized EBITDA</FONT></B><SUP><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">(iii)</FONT></B></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">6,430,953</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">6,423,072</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">2,000,636</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,960,607</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,037,378</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">812,576</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">9,468,967</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">9,196,255</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(8,508)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(14,817)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(7,999)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(28,465)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(246,692)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Depreciation, amortization and impairment excluding exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,289,432)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,066,889)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(351,043)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(279,377)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(107,196)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(89,202)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,747,671)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,435,468)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Net finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,058,172)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(775,476)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(245,268)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(281,540)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">232,252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">212,333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(2,071,188)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(844,683)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">6,879</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">958</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(118)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">7,837</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">4,993</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">49,304</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(464,662)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(366,243)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(409,939)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(246,027)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(246,120)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(562,966)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,120,721)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,127,574</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,889,281</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,029,574</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">974,934</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">909,366</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">689,469</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,066,514</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,553,684</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Normalized EBITDA margin in %</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">46.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">48.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">41.8%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">41.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">31.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">31.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">43.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">44.5%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Acquisition of property, plant and equipment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,081,683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,451,866</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">592,910</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">478,937</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">137,548</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">90,441</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">1,812,141</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">2,021,244</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">Additions to / (reversals of) provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">296,683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">89,999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,857</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">17,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(60,322)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">242,218</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">107,443</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Segment assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">48,206,186</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">47,282,239</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">10,409,342</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">12,757,718</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">9,756,370</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">9,264,616</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">68,371,898</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">69,304,573</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Intersegment elimination</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(4,586,154)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,996,366)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Non-segmented assets</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">12,870,968</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">22,868,027</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Total assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">76,656,712</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">90,176,234</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Segment liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">17,998,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">20,998,656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,804,162</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">5,093,900</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,408,149</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">3,608,612</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">27,210,778</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">29,701,168</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Intersegment elimination</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(4,586,154)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">(1,996,366)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Non-segmented liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">54,032,088</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">62,471,432</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=black face="times new roman">Total liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">76,656,712</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" color=windowtext face="times new roman">90,176,234</FONT></B></P></TD></TR></TABLE></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) Latin America &#8211; North: includes operations in Brazil and CAC (El Salvador, Guatemala, Nicaragua, Dominican Republic, Saint Vincent, Dominica, Antiqua, Cuba and Barbados).</FONT></P>

<P style="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">(ii) Latin America &#8211; South: includes operations in Argentina, Bolivia, Chile, Colombia, Paraguay, Uruguay, Ecuador and Peru.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; 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">(iii) Normalized EBITDA is calculated excluding of the net income the following effects: (i) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Non-controlling interests</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (ii) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Income tax expense</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (iii) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Share of results of associates</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (iv) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Net finance result</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (v) Exceptional items, and (vi) Depreciation and amortization expenses.</FONT></P>

<a name="_bclFooter26"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>26</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_27"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader27"></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>

<P style="MARGIN: 0in 0in 10pt 21.3pt; LINE-HEIGHT: 115%; TEXT-INDENT: -21.3pt"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(b)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Reportable segments &#8211; three-month periods ended in:</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Latin America - north <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Latin America - south<SUP> (ii)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canada</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,533,784</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,178,828</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,813,439</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,153,236</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,029,981</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,577,938</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,377,204</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,910,002</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,504,444)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,332,377)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(728,083)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(927,110)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(662,078)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(515,163)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,894,605)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,774,650)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,029,340</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,846,451</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,085,356</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,226,126</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,367,903</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,062,775</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,482,599</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,135,352</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Distribution expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(925,891)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(821,294)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(192,911)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(211,078)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(339,010)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(276,091)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,457,812)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,308,463)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(887,281)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(775,705)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(291,537)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(285,273)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(302,725)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(217,784)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,481,543)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,278,762)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(385,382)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(352,488)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(97,984)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(124,563)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(70,185)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(59,934)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(553,551)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(536,985)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">352,519</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">334,562</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(15,655)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,319</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,732)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">356</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">331,132</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">348,237</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8,508)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,756)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(7,999)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(22,226)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(238,897)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income from operations (EBIT)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,177,586</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,002,385</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">478,761</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">608,775</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">642,252</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">509,322</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,298,599</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,120,482</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(976,623)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(315,930)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(28,312)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(161,879)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">105,052</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">114,821</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(899,883)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(362,988)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of result of associates</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(136)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,002</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">524</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(418)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">388</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,584</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,200,827</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,689,457</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">450,449</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">446,896</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">747,828</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">623,725</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,399,104</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,760,078</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10,552)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">80,020</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(15,319)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(84,858)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(200,712)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(164,399)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(226,583)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(169,237)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,190,275</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,769,477</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">435,130</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">362,038</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">547,116</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">459,326</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,172,521</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,590,841</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Normalized EBITDA</FONT></B><SUP><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(iii)</FONT></B></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,830,880</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,796,102</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">664,921</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">767,971</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">708,821</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">559,242</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,204,622</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,123,315</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8,508)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,756)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(7,999)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(22,226)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(238,897)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation, amortization and impairment excluding exceptional items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(647,575)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(564,576)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(177,652)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(149,440)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(58,570)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(49,920)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(883,797)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(763,936)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance costs</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(976,623)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(315,930)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(28,312)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(161,879)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">105,052</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">114,821</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(899,883)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(362,988)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(136)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,002</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">524</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(418)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">388</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,584</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10,552)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">80,020</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(15,319)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(84,858)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(200,712)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(164,399)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(226,583)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(169,237)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,190,275</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,769,477</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">435,130</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">362,038</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">547,116</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">459,326</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,172,521</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,590,841</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Normalized EBITDA margin in %</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">43.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">36.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">34.9%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.4%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">40.5%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">41.6%</FONT></B></P></TD></TR></TABLE></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"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) Latin America &#8211; North: includes operations in Brazil and CAC (El Salvador, Guatemala, Nicaragua, Dominican Republic, Saint Vincent, Dominica, Antiqua, Cuba and Barbados).</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; 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: 8pt; 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, Colombia, Paraguay, Uruguay, Ecuador and Peru.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; 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: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(<FONT style="FONT-SIZE: 8pt" face="Times New Roman">ii</FONT>i) Normalized EBITDA is calculated excluding of the net income the following effects: (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-controlling interests</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (ii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of associates</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iv) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance result</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (v) Exceptional items, and (vi) Depreciation and amortization expenses.</FONT></P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<a name="_bclFooter27"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>27</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_28"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader28"></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 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(c) Additional information &#8211; by Business unit:</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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Latin America - north</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Latin America - north</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">CAC</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Brazil</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">CAC</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Brazil</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,998,756</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,347,119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">11,810,690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">11,976,852</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">13,809,446</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">13,323,971</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">981,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">720,334</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,552,596</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,458,494</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,533,783</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,178,828</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(912,109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(664,725)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(4,077,181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(4,027,076)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(4,989,290)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(4,691,801)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(440,262)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(378,276)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,064,181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,954,101)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,504,443)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,332,377)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,086,647</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">682,394</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">7,733,509</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">7,949,776</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">8,820,156</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">8,632,170</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">540,925</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">342,058</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,488,415</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,504,393</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,029,340</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,846,451</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Distribution expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(205,293)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(143,440)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,691,815)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,599,504)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,897,108)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,742,944)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(103,415)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(76,799)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(822,476)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(744,495)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,891)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(821,294)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Sales and marketing expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,279)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(173,109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,597,267)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,452,642)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,826,546)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,625,751)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(106,898)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(88,645)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(780,383)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(687,060)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(887,281)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(775,705)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(97,402)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(63,069)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(636,642)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(659,203)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(734,044)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(722,272)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(54,259)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(32,402)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(331,122)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(320,086)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(385,381)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(352,488)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Other operating income/(expenses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,877</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,963</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">774,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">813,017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">779,064</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">814,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,776)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,648)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">354,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">336,210</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">352,519</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">334,562</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Income from operations (EBIT)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">559,550</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">304,739</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,570,014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,819,569</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,129,564</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,124,308</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">274,577</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">142,564</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,903,010</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,859,821</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,177,587</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,002,385</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Net finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(14,979)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">150,173</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,043,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,058,172)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(775,476)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">29,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,006,378)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,058)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(976,623)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(315,930)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Share of result of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">13,048</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(6,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,879</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,992</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(136)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">557,619</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">454,912</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,520,652</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,899,031</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,078,271</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,353,943</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">307,324</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">144,692</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">893,504</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,544,765</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,200,828</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,689,457</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(167,186)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(102,089)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">216,490</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(362,573)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">49,304</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(464,662)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(88,490)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(38,635)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">77,938</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">118,655</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(10,552)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">80,020</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">390,433</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">352,823</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,737,142</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,536,458</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,127,575</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,889,281</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">218,834</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">106,057</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">971,442</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,663,420</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,190,276</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,769,477</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Normalized EBITDA <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">732,307</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">468,786</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,698,647</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,954,286</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,430,954</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,423,072</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">353,554</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">250,531</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,477,327</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,545,571</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,830,881</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,796,102</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Depreciation. amortization and impairment excluding exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(172,757)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(164,047)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,116,675)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(902,842)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,289,432)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,066,889)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(78,977)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(107,967)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(568,598)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(456,609)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(647,575)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(564,576)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Net finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(14,979)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">150,173</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,043,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,058,172)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(775,476)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">29,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,006,378)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,058)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(976,623)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(315,930)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">13,048</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(6,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,879</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,992</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(136)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(167,186)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(102,089)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">216,490</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(362,573)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">49,304</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(464,662)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(88,490)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(38,635)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">77,938</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">118,655</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(10,552)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">80,020</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">390,433</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">352,823</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,737,142</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,536,458</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,127,575</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,889,281</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">218,834</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">106,057</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">971,442</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,663,420</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,190,276</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,769,477</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Normalized EBITDA margin in %</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">36.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">34.8%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">48.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">49.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">46.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">48.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">36.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">34.8%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">44.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">46.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">43.3%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">45.3%</FONT></B></P></TD></TR></TABLE></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"></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) Normalized EBITDA is calculated excluding of the net income the following effects: (i) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Non-controlling interests</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (ii) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Income tax expense</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (iii) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Share of results of associates</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (iv) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Net finance result</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (v) Exceptional items, and (vi) Depreciation and amortization expenses.</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter28"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>29</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_29"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader29"></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 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: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="41%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">&nbsp;</FONT><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">&nbsp;</FONT><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="41%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Brazil</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Brazil</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Beer</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Soft drink</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">10,011,436</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">10,176,811</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,799,254</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,800,041</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">11,810,690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">11,976,852</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,701,579</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,609,219</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">851,017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">849,275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,552,596</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,458,494</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,233,391)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,204,821)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(843,790)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(822,255)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(4,077,181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(4,027,076)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,634,003)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,547,670)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(430,178)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(406,431)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,064,181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,954,101)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,778,045</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">6,971,990</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">955,464</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">977,786</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">7,733,509</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">7,949,776</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,067,576</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,061,549</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">420,839</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">442,844</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,488,415</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,504,393</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Distribution expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,373,124)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,311,031)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,691)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(288,473)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,691,815)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,599,504)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(659,954)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(608,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(162,522)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(135,712)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(822,476)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(744,495)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,481,805)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,306,005)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(115,462)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(146,637)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,597,267)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,452,642)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(748,869)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(633,120)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(31,514)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(53,940)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(780,383)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(687,060)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Administrative expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(575,246)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(616,669)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(61,396)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(42,534)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(636,642)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(659,203)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(285,391)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(300,587)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(45,731)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(19,499)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(331,122)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(320,086)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Other operating income/(expenses) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">619,226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">716,435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">154,961</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">96,582</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">774,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">813,017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">282,459</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">290,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">71,836</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">45,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">354,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">336,210</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,461)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,724)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,414)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(305)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Income from operations (EBIT) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,955,635</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,222,996</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">614,379</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">596,573</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,570,014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,819,569</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,650,407</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,580,499</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">252,603</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">279,322</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,903,010</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,859,821</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net finance cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,043,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,043,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,006,378)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,058)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,006,378)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Share of result of associates </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(6,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(6,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,906,273</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,302,458</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">614,379</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">596,573</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,520,652</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,899,031</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">640,901</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,265,443</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">252,603</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">279,322</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">893,504</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,544,765</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">216,490</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(362,573)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">216,490</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(362,573)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">77,938</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">118,655</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">77,938</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">118,655</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,122,763</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,939,885</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">614,379</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">596,573</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,737,142</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,536,458</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">718,839</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,384,098</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">252,603</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">279,322</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">971,442</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,663,420</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Normalized EBITDA <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">4,906,150</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,197,560</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">792,497</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">756,726</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,698,647</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,954,286</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,133,804</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,185,272</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">343,523</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">360,299</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,477,327</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,545,571</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,461)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,724)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(11,958)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(231,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,414)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(305)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(5,719)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=black face="times new roman">Depreciation, amortization and impairment excluding exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(939,054)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(742,840)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(177,621)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(160,002)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,116,675)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(902,842)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(477,983)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(375,632)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(90,615)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(80,977)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(568,598)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(456,609)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net finance costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,043,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(2,043,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(925,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,006,378)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,058)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(1,006,378)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(318,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Share of results of associates </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(6,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(6,169)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">5,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(3,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,002</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Income tax expense </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">216,490</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(362,573)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">216,490</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">(362,573)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">77,938</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">118,655</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">77,938</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">118,655</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Net income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,122,763</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,939,885</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">614,379</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">596,573</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">2,737,142</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">3,536,458</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">718,839</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,384,098</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">252,603</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">279,322</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">971,442</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">1,663,420</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">Normalized EBITDA margin in % </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">49.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">51.1%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">44.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">42.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">48.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">49.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">45.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">47.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">40.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">42.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">44.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7.5pt" color=windowtext face="times new roman">46.6%</FONT></B></P></TD></TR></TABLE></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"></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) Normalized EBITDA is calculated excluding of the net income the following effects: (i) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Non-controlling interests</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (ii) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Income tax expense</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (iii) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Share of results of associates</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (iv) </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=black face="times new roman">Net finance result</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">, (v) Exceptional items, and (vi) Depreciation and amortization expenses.</FONT></P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<a name="_bclFooter29"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>30</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_30"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader30"></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="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">15. NET SALES</FONT></B></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">The reconciliation between gross sales and 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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Gross sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">43,929,257</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">43,036,398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">18,950,050</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">20,674,920</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Deductions from gross revenue</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(21,986,955)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(22,357,603)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(8,572,846)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(10,764,918)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">21,942,302</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">20,678,795</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">10,377,204</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">9,910,002</FONT></B></P></TD></TR></TABLE></DIV>

<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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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, rebates and strategic location in stores. Services provided by distributors, such as the promotion of our brands and logistics services are considered as expense when separately identifiable.</FONT></FONT></P>

<P style="LINE-HEIGHT: 13pt; 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="LINE-HEIGHT: 13pt; 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. OTHER OPERATING INCOME / (EXPENSES)</FONT></B></P>

<P style="LINE-HEIGHT: 13pt; 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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="28%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Government grants/NPV of long term fiscal incentives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">673,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">831,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">317,846</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">363,667</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Additions to provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(28,857)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(22,739)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(6,616)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(14,165)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Gain / (losses) on disposal of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">28,170</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">8,440</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">25,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">20,929</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other operating income/(expenses), net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">50,989</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,079)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(5,353)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(22,194)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">723,467</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">815,008</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">331,132</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">348,237</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; 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="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Government grants are not recognized until there is reasonable assurance that the Company will meet related conditions and that the grants will be received. Government grants are systematically recognized in income during the periods in which the Company recognizes as expenses the related costs that the grants are intended to offset.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&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">17. EXCEPTIONAL ITEMS</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"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">According to the Company&#8217;s accounting practices, exceptional items are those that do not occur regularly, as part of the operational activities of the business</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. In determining whether an event or transaction qualifies as a </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">exceptional</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> item, management considers quantitative and qualitative factors such as the frequency or predictability of the occurrence, and the potential for affecting the profit or loss. Transactions that may give rise to exceptional items are mainly restructuring activities, impairments, and gains or losses on disposal of assets and investments, due to the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">special</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> nature of such events. The Company opted to exclude these items when measuring segment-based performance, as per Note 14 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Segment reporting</FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.</FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter30"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>31</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_31"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader31"></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="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">exceptional</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> items included in the income statement are detailed below:</FONT></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>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Restructuring</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(20,466)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(17,551)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(14,227)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(9,756)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Administrative lawsuit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(229,141)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Costs of new acquisition</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(7,999)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(7,999)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(28,465)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(246,692)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(22,226)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(238,897)</FONT></B></P></TD></TR></TABLE></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"></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">18. FINANCE COST AND INCOME</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"></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 0in 21.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Finance costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Interest expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(721,750)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(442,823)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(358,671)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(222,792)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Capitalized borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">2,851</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">20,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">723</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">7,562</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net Interest on pension plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(56,276)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(46,343)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(27,613)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(23,596)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Losses on hedging instruments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(997,270)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(479,293)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(474,695)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(194,292)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Interest on contingencies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(265,245)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(53,926)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(47,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(26,606)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Exchange variation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(320,368)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(241,872)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(50,664)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(93,512)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Tax on financial transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(90,643)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(51,532)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(47,295)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(22,842)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Bank guarantee expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(45,675)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(39,321)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(21,974)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(19,577)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Other financial results</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(35,072)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(29,100)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(8,664)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">3,405</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(2,529,448)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,364,195)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,035,991)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(592,250)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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 financial instruments which mitigate Ambev S.A. interest rate risk (Note 21 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">).</FONT></FONT></P>

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

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The interest expense are as follows:</FONT></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Financial liabilities measured at amortized cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(221,475)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(186,908)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(106,034)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(88,866)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Liabilities at fair value through profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(479,977)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(238,283)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(242,360)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(124,721)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Fair value hedge - hedged items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(29,120)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(13,470)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(10,814)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(7,389)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Fair value hedge - hedging instruments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">8,822</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(4,162)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">537</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(1,816)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(721,750)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(442,823)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(358,671)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">(222,792)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 0in 21.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Finance income</FONT></B></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Interest income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">288,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">269,950</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">103,671</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">96,473</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Gains on derivative</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">114,713</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">173,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">9,513</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">92,091</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" 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: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">36,234</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">58,937</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">11,854</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">29,981</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other financial results</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">18,534</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">16,783</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">11,070</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">10,717</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">458,260</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">519,512</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">136,108</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">229,262</FONT></B></P></TD></TR></TABLE></DIV>

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

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

<a name="_bclFooter31"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>32</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_32"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader32"></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>

<P style="MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest income arises from the following financial assets:</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">133,653</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">222,013</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">62,971</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">70,818</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment securities held for trading</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">23,355</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47,937</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,745</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">25,655</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other receivables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">131,771</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26,955</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">288,779</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">269,950</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">103,671</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">96,473</FONT></B></P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19. INCOME TAX AND SOCIAL CONTRIBUTION</FONT></B></FONT></P>

<P style="MARGIN: 0in 0in 12pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income taxes reported in the income statement are analyzed as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense - current</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,172,401)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,303,924)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(533,547)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(380,469)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred tax expense on temporary differences</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(446,563)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(586,996)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(281,898)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(121,076)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred tax on taxes losses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,055,998</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">770,199</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">588,862</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">332,308</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total deferred tax (expense)/income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">609,435</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">183,203</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">306,964</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">211,232</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total income tax expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(562,966)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,120,721)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(226,583)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(169,237)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The reconciliation from the weighted nominal to the effective tax rate is summarized as follows:</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Profit before tax</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,629,480</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,674,405</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,399,104</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,760,078</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Adjustment on taxable basis</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-taxable income </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(263,577)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(372,073)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(133,584)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">106,139</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Government grants related to sales taxes </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(724,082)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(514,570)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(382,967)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(215,510)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of associates</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(7,837)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,993)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(388)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,584)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-deductible expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">464,503</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">322,070</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">204,068</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">222,235</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Complement of income tax of foreign subsidiaries due in Brazil</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">92,159</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,121,050</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">61,144</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(69,835)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Intragroup transactions taxed only in Brazil</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">915,919</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(980,324)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">467,943</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">240,897</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,106,565</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,245,565</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,615,320</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,041,420</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Aggregated weighted nominal tax rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30.33%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31.71%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">29.54%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30.66%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Taxes payable &#8211; nominal rate </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,852,043)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,980,768)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(772,649)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(932,573)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Adjustment on tax expense</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Regional incentives - income taxes</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">101,451</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">89,888</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">49,448</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">50,947</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deductible interest on shareholders equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,118,698</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,021,556</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">425,382</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">533,988</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Tax savings from goodwill amortization on tax books</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">71,122</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">71,190</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35,533</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35,590</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Withholding tax over undistributed profits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(82,016)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(210,448)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">130</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(58,330)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others with reduced taxation</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">79,822</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(112,139)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35,573</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">201,141</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax and social contribution expense</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(562,966)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,120,721)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(226,583)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(169,237)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effective tax rate</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.00%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16.79%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.44%</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.13%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" 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: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">The main events that impacted the effective tax rate in the period were:</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=wingdings>&#167;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face="Times New Roman">Non-taxable income</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">: currency impact over non taxable income abroad; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=wingdings>&#167;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face="Times New Roman">Complement of income tax of foreign subsidiaries due in Brazil: </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">higher results of foreign subsidiaries with a tax rate &nbsp;lower than 34%;</FONT></P>

<P style="MARGIN: 0in 0in 0in 0.5in; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman"></FONT>&nbsp;</P>

<a name="_bclFooter32"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>33</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_33"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader33"></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>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=wingdings>&#167;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face="Times New Roman">Withholding tax over undistributed profits: </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">currency impact over deferred tax associated to undistributed &nbsp;profits of foreign subsidiaries;</FONT></P>

<P style="MARGIN: 0in 0in 0in 0.5in; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face=wingdings>&#167;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">&nbsp;Other taxes adjustments</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face="Times New Roman"> the non-recognition of deferred tax asset related to losses of an Ambev subsidiary, in line with paragraph 39 of IAS 12.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" 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: 12pt; LAYOUT-GRID-MODE: line" 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></P>

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

<P style="MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20. SHARE-BASED PAYMENTS</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">There are different share-based payment programs and stock option plans which allow the senior management from the Company and its subsidiaries to receive or acquire shares </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">of the Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" 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, modified to reflect the IFRS 2 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Share&#8209;based Payment</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"> requirement that assumptions about forfeiture before the end of the vesting period cannot impact the fair value of the option.</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"> </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">This current model of share based payment includes two types of grants: Grant 1: 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 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; Grant 2: the beneficiary may exercise the options after a period of five years. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The weighted average fair value of the options and assumptions used in applying the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Ambev S.A.</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> option pricing model for the &#8220;Grant 2&#8221; of 2016 and 2015 grants are as follows: </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">In R$, except when otherwise indicated</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">06/30/2016 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"><STRONG><SUP>(i)</SUP></STRONG></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12/31/2015 </FONT></B></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"><STRONG><SUP>(i)</SUP></STRONG></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>&nbsp;</TD>

   <TD vAlign=top width="3%" noWrap align=left></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Fair value of options granted</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7.53</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7.84</FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Share price</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">18.25</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">18.41</FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Exercise price</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">18.25</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">18.41</FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Expected volatility</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">27.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">27.5%</FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Vesting year</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5</FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Expected dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5%</FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Risk-free interest rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">14.8% </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"><SUP>(ii)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman">15.9% </FONT></P></TD>

   <TD vAlign=bottom width="3%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=#000000 face="times new roman"><SUP>(ii)</SUP></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; LINE-HEIGHT: 110%; TEXT-INDENT: 0in"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face="Times New Roman">(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face="Times New Roman">Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">(ii</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" 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></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter33"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>34</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_34"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader34"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Thousand options</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options outstanding at January 1<SUP>st</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">121,770</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">126,149</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options issued during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">3,700</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">16,568</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options exercised during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(8,088)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(19,975)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options forfeited during the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(1,858)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(972)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options outstanding at ended period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">115,524</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">121,770</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The range of exercise prices of the outstanding options is between </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$0.22</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$0.35 as of December 31, 2015) and </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$30.57</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$26.57 as of December 31, 2015) and the weighted average remaining contractual life is approximately</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> 6.18</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> years (6.30 years as of December 31, 2015).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Of the 115,524 thousand outstanding options (121,770 thousand as of December 31, 2015), 40,578 thousand options are vested as at June 30, 2016 (48,723 thousand as of December 31, 2015).</FONT></FONT></P>

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

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="59%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">In R$ per share</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options outstanding at January 1<SUP>st</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12.36 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">10.07 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options issued during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">18.25 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">18.42 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options forfeited during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15.51 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">20.35 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options exercised during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2.65 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5.05 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options outstanding at ended period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12.96 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12.36 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Options exercisable at ended period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5.42 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">3.29 </FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">For the options exercised during 2016, the weighted average share price on the exercise date was R$18.39.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">To settle stock options, </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">the Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"> may use treasury shares. The current limit of authorized capital is considered sufficient to meet all stock option plans if the issue of new shares is required to meet the grants awarded in the Programs.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">During the period, </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Ambev</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"> S.A. issued 4,884 thousand (2,692 in 2015) 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$93,514 (R$47,486 in 2015), and cliff vest after five years.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter34"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>35</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_35"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader35"></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; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Thousand deferred shares</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Deferred shares outstanding at January 1<SUP>st</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">19,056</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">17,490</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">New deferred shares during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">4,884</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,692</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Deferred shares granted during the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(6,008)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(804)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Deferred shares forfeited during the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(679)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">(322)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Deferred shares outstanding at ended period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">17,253</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">19,056</FONT></B></P></TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Additionally, certain employees and directors of the Company receive options to acquire ABI shares, the compensation cost of which is recognized in the income statement against equity</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=windowtext face="times new roman">.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 12pt 0in 0.25in"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">These share-based payments generated an expense of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$97,474</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> in the three-month period ended June 30, 2016 (R$95,993 for the three-month period ended June 30, 2015), recorded as administrative expenses.</FONT></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">21. 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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Risk factors</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">interest rate</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">commodity price</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">liquidity</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">credit risk</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in the</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ordinary course of business</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. The Company </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">analyzes</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">each of these</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">risks</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">both individually and</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">as a whole to define</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">strategies</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">to manage</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">economic</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">impact</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">on</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> Company&#8217;s</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> performance</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">consistent</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">with</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">its</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial Risk Management Policy</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.</FONT></FONT></P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company&#8217;s use of derivatives strictly follows its Financial Risk Management 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. carries out its operations. The policy comprises four 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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; 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. operates must be denominated in their respective local currencies. 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.&#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 financial instruments. Existing risks not yet evident (e.g. future contracts for the purchase of raw material or 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 ten to fourteen months, also through the use of derivative financial </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">instruments. Most of the translation risks are not mitigated. Any exception to the policy must be approved by the Board of Directors</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">.</FONT></FONT></P>

<a name="_bclFooter35"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>36</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_36"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader36"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Derivative financial Instruments</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Derivative financial instruments authorized by the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial Risk Management Policy</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> are futures contracts traded on exchanges, full deliverable forwards, non-deliverable forwards, swaps and options. At June 30, 2016, the Company and its subsidiaries had no target forward, swaps with currency verification or any other derivative operations representing a risk level above the nominal value of their contracts. The derivative operations are classified by strategies according to their purposes, as follows:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">i) Cash flow hedge derivative instruments &#8211; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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, investments, equipment and services to be procured, protected by cash flow hedges that shall occur at various different dates during the next fourteen months. Gains and losses classified 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 occurs in the period of up to fourteen months from the balance sheet date in accordance with the Company&#8217;s Financial Risk Management Policy.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ii) Fair value hedge derivative instruments &#8211; 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. The results of these operations, measured according to their fair value, are recognized in financial results. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">iii</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">) Net </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">investment hedge</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> derivative instruments </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#8211;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">transactions entered into</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in order</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">to</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">minimize</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">exposure</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of the exchange differences</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">arising</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">from</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">conversion</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">net investment</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in the Company's subsidiaries</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">located</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">abroad</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">for</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">translation account</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">balance</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. The effective p</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ortion</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> of the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">hedge</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">is</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">allocated</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">to</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> equity </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ineffectiveness</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> portion </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">is recorded</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">directly</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in financial results.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">iv) Derivatives measured at fair value though profit or loss &#8211; operations contracted with the purpose of protecting the Company against fluctuations on income statement.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The following tables summarize the exposure of the Company that were identified and protected in accordance with the Company's Risk Policy. The following denominations have been applied:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><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; VERTICAL-ALIGN: top"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Operational Hedge: Refers to the exposures arising from the core business of Ambev S.A., such as: purchase of inputs, purchase of fixed assets and service contracts linked to foreign currency, which is protected through the use of derivatives.</FONT></P>

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

<a name="_bclFooter36"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>37</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_37"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader37"></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; VERTICAL-ALIGN: top"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial Hedge: Refers to the exposures arising from cash and financing activities, such as: foreign currency cash and foreign currency debt, which is protected through the use of derivatives.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><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; VERTICAL-ALIGN: top"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Investment hedge abroad: Refers mainly to exposures arising from cash hold in foreign currency in foreign subsidiaries whose functional currency is different from the consolidation currency. Once the derivatives contracted for protection of this cash are accounted in entities whose functional currency is the Real, a portion of the net assets of these subsidiaries was designated as net investment hedge object, in such manner the&nbsp;hedge result can be recorded in other comprehensive income of the group&nbsp;, following the result of the hedged item.</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>

<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">Investment hedge - </FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">Put option</FONT><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"> granted on</FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"> subsidiary</FONT><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">: As detailed in Note 13 (d.4) the Company constituted a liability related to acquisition of Non-controlling interest in the Dominican Republic operations. This financial instrument is denominated in Dominican Pesos and is recorded in a Company which functional currency is the Real. The Company assigned this financial instrument as a hedging instrument for part of its net assets located in the Dominican Republic, in such manner the hedge result can be recorded in other comprehensive income of the group, following the result of the hedged item.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<a name="_bclFooter37"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>38</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_38"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader38"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman">Transactions protected by derivative financial instruments in accordance with the Financial Risk Management Policy</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">06/30/2016 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Six-month period ended: 06/30/2016 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Three-month period ended: 06/30/2016 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Fair Value </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Gain / (Losses) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Gain / (Losses) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Risk </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Notional </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Assets </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Liability </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Finance Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Operational Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Equity </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Finance Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Operational Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Equity </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(10,764,618)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">10,764,618</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">284,266</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,015,503)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(789,765)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">709,625</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,078,446)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(374,741)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">245,054</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(512,702)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Commodity </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,510,222)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,510,222</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">133,427</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(75,626)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(132,064)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">7,783</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(57,939)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(8,756,486)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">8,756,486</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">130,741</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(889,259)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(795,641)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">803,190</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(994,655)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(382,118)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">287,808</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(501,289)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(115,971)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">115,971</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,016)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">7,102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">41,264</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(91,735)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">8,132</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">15,894</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(11,413)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Mexican Pesos </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(381,939)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">381,939</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">20,098</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(46,602)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,226)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,765)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(755)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(709)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Fixed Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,034,294)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,034,294</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,184</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(169,866)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(195,003)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(116,767)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(606,113)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">606,113</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,494</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(117,017)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(134,536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(74,328)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(428,181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">428,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(52,849)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(60,467)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(42,439)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(89,352)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">89,352</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">7,013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,836)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">49,238</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(134,211)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,297)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,756</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(83,294)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">83,294</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,248)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(28,608)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(966)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,756</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(6,058)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">6,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,758</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,836)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(375)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(331)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Canadian Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">50,861</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(106,291)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,100,719</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,100,719)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(6,880)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">16,297</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">76,511</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">24,873</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">608,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(608,467)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(9,761)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">20,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">37,254</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,320</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">42,252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(42,252)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,736</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,451)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">7,954</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">315</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">450,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(450,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">145</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(510)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">31,303</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Debts</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,424,280)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,829,618</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">30,971</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(53,049)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(21,660)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(21,023)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,724,721)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,130,059</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">18,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(37,624)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(7,518)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(18,873)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(699,559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">699,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,843</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(15,425)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(14,142)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,150)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Foreign Investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,161)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">35,348</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(937)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">37,166</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">44</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Canadian Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(268)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,501)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">As of June 30, 2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(13,211,825)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,617,163</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">318,554</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,223,957)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(881,840)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">709,625</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,177,309)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(488,955)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">245,054</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(507,946)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P><SUP><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT></SUP>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><SUP><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face="times new roman"></FONT></SUP>&nbsp;</P>

<a name="_bclFooter38"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>39</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_39"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<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="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><SUP><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face="times new roman"></FONT></SUP>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12/31/2015 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Six-month period ended: 06/30/2015 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Three-month period ended: 06/30/2015 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Fair Value </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Gain / (Losses) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Gain / (Losses) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Risk</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Notional </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Assets </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Liability </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Finance Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Operational Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Equity </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Finance Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Operational Result </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Equity </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(12,234,865)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,234,865</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">585,089</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(443,589)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(512,904)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">342,299</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">622,860</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(257,041)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">192,888</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(80,249)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Commodity </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,354,990)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,354,990</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">75,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(368,702)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(11,430)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(112,409)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(144,409)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,678)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(56,572)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(26,585)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(8,808,434)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">8,808,434</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">460,959</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(46,135)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(507,135)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">429,175</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">750,273</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(264,247)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">237,698</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(28,251)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(635,611)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">635,611</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">23,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,039</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">28,601</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">32,674</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">14,830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,683)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Mexican Pesos </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(435,830)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">435,830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">24,795</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(33,081)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,622</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,068)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(15,678)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,068)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(7,730)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Fixed Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,236,459)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,236,459</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">79,477</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(15,724)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">58,986</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">10,822</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,875,765)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,875,765</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">76,403</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(11,446)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">21,544</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">8,034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(360,694)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">360,694</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,074</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,278)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">37,442</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">2,788</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,920,227</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,920,227)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">290,927</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,974,335)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(193,037)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(668,192)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">69,966</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">132,119</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,049,965</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,049,965)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">252,101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,052,674)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(229,827)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(518,675)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">60,795</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">60,847</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(16,232)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">16,232</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">10,393</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(16,697)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,366)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,461)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(102)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(197)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Canadian Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,886,494</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,886,494)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">28,433</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,904,964)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">54,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(115,316)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">30,436</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">55,450</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Brazilian Real </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(13,031)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(29,740)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(21,163)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">16,019</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,048,612)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,048,612</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">164,911</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,175,509)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,246,425</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(96,719)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(841,139)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">841,139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">146,108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,122,286)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,277,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(93,338)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">37,527</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(37,527)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">18,226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(52,945)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(9,963)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,188)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(245,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">245,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(278)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(21,293)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Debts</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,595,444)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">743,813</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,030</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">910,879</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(40,726)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(2,958)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,005,885)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">154,254</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,030</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">949,512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(36,564)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,142)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(589,559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">589,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(38,633)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,162)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,816)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Foreign Investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">141,937</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(141,938)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">440,323</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(1,119,851)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">186,873</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(876,294)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">113,254</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">217,769</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">132,910</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(132,911)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">62,609</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(978,206)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">152,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(798,778)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">95,744</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">69,159</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(9,027)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">11,153</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(26,157)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,366</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(41,152)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">29</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Canadian Dollar </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">366,561</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(115,488)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">30,483</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(36,364)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">17,408</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">148,580</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(12,053,216)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">11,201,584</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,563,757</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(4,818,129)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">745,617</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">342,299</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(921,626)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(162,676)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">192,888</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">269,639</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><SUP><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 6pt" lang=EN-US color=windowtext face="times new roman"></FONT></SUP>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

<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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>40</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&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="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 0in 21.3pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">I.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Market risk</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I></B></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a.1) Foreign currency risk</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> is exposed to foreign currency risk on borrowings, investments, purchases, dividends and/or 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 currency risk are futures contracts, swaps, options, non deliverable forwards and full deliverable forwards.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a.2) Commodity Risk</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 derivative financial instruments to minimize its exposure to commodity price volatility. The Company has important exposures to the following commodities: aluminum, sugar, wheat and corn. These derivative financial instruments have been designated as cash flow hedges.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a.3) Interest rate risk</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> applies a dynamic interest rate hedging approach whereby the target mix between fixed and floating rate debt is reviewed periodically. The purpose of t</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">he Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#8217;s policy is to achieve an optimal balance between cost of funding and volatility of financial results, taking into account market conditions as well as </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&#8217;s overall business strategy.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></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">The table below demonstrates the Company&#8217;s exposure related to debts, before and after interest rates hedging strategy.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="71%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="33%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Pre - Hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=#000000 face="times new roman">Post - Hedge</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Amount</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">985,749</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">608,094</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Working Capital in Argentinean Peso </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">34.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">175,736</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">34.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">175,736</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Dominican Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">305,159</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">305,159</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">11,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">5.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">11,386</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Guatemala&#180;s Quetzal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">8.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">8.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,628</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Working Capital in Chilean Peso </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,626</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,626</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Colombian Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12.5%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">26,076</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12.5%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">26,076</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest rate pre-set</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,515,360</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,137,705</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">747,095</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,089,705</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1.8%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,548,231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1.9%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">583,276</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Interest rate postfixed</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,295,326</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,672,981</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter40"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>41</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_41"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<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="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="71%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="32%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Pre - Hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="37%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=#000000 face="times new roman">Post - Hedge</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Amount </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,099,610</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">8.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">927,152</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Working Capital in Argentinean Peso </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">24.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,537</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">24.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,537</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">394,880</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">394,880</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">6.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">15,816</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Guatemala&#180;s Quetzal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,703</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">7.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9,703</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">Colombian Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2.9%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2.9%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">29,635</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,552,181</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,379,723</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">9.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,055,059</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">11.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1,386,476</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1.8%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">994,775</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">1.8%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">835,816</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,049,834</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" color=black face="times new roman">2,222,292</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></FONT>&nbsp;</P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">financial </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">instruments. In this context, the Company has identified the main risk factors that may generate losses from these derivative financial instruments and has developed a sensitivity analysis based on four scenarios, which may impact the Company&#8217;s future results, as described below:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">1 &#8211; Probable scenario: Management expectations of deterioration in each transaction&#8217;s main risk factor. To measure the possible effects on the results of derivative transactions, the Company uses parametric Value at Risk &#8211; 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 after June 30, 2016 for the calculation, which are presented in the module.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 June 30, 2016. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 June 30, 2016.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>42</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_42"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Transaction</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Risk</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Base scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Probable scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Adverse scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Remote<BR>scenario</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Commodities hedge</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Decrease on commodities price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">57,801</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(142,857)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(319,756)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(697,311)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Input purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(57,801)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">142,857</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">319,756</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">697,311</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign exchange hedge</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(789,038)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(1,570,703)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(3,074,391)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(5,359,744)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Input purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">789,038</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">1,570,703</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">3,074,391</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">5,359,744</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Costs effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign exchange hedge</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(166,682)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(272,991)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(399,458)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(632,234)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Capex Purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">166,682</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">272,991</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">399,458</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">632,234</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Fixed assets effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign exchange hedge</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">5,177</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(1,633)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(17,161)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(39,499)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(5,177)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">1,633</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">17,161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">39,499</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Income expenses effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Hedge cambial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">9,782</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(61,341)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(156,435)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(303,087)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(9,782)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">61,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">156,435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">303,087</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest Hedge</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Increase in interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(365)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(638)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(415)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(462)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Interest revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">365</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">638</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">415</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">462</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Cash effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Hedge cambial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(19,496)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(161,248)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(311,781)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(604,066)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">19,496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">92,116</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">163,116</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">306,735</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Interest Hedge</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Decrease in interest rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(2,582)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(210,559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(209,523)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">(238,091)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Interest expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">2,582</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">210,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">209,523</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">238,091</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Debt effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman"><STRONG>-</STRONG></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman"><STRONG>(69,132)</STRONG></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman"><STRONG>(148,665)</STRONG></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman"><STRONG>(297,331)</STRONG></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(69,132)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(148,665)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(297,331)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: top"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter42"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>43</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_43"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader43"></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>

<P style="VERTICAL-ALIGN: top; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">As of June 30, 2016 the Notional and Fair Value amounts per instrument and maturity were as follows:</FONT></FONT></P>

<P style="VERTICAL-ALIGN: top; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Notional Value </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2018</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2019</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"><FONT style="FONT-SIZE: 8pt" face="Times New Roman">&gt;</FONT>2020 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9,124,271</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,640,347</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,764,618</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Commodity </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,291,667</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">218,555</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,510,222</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,337,754</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,418,732</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8,756,486</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">115,971</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">115,971</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Mexican Peso </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">378,879</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,060</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">381,939</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fixed asset</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">745,412</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">288,882</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,034,294</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">317,231</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">288,882</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">606,113</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">428,181</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">428,181</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">89,352</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">89,352</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">83,294</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">83,294</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,058</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,058</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(89,058)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(611,661)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(150,000)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(250,000)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,100,719)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(46,806)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(561,661)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(608,467)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(42,252)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(42,252)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(50,000)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(150,000)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(250,000)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(450,000)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">86,928</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,343,131</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">399,559</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,829,618</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">86,928</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,043,131</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,130,059</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">300,000</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">399,559</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">699,559</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9,956,905</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,660,699</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(150,000)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">149,559</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,617,163</FONT></B></P></TD></TR></TABLE></DIV>

<P style="VERTICAL-ALIGN: top; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair Value </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2018</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2019</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&gt;2020 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(593,436)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(137,801)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(731,237)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Commodity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">43,782</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">14,019</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57,801</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(607,285)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(151,233)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(758,518)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,016)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,016)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Mexican Peso</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(25,917)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(587)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(26,504)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fixed asset</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(155,132)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(11,550)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(166,682)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(103,973)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(11,550)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(115,523)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(51,159)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(51,159)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,177</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,177</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,255</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,255</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(78)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(78)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(8,059)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17,851</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(22)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(353)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9,417</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(7,344)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17,841</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,497</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Euro</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(715)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(715)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(22)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(353)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(365)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,639</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(46,609)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,892</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(22,078)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,639</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(33,135)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(19,496)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(13,474)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,892</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,582)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(737,811)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(178,109)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(22)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,539</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(905,403)</FONT></B></P></TD></TR></TABLE></DIV><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 115%" face="times new roman"></FONT>

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

<a name="_bclFooter43"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>44</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_44"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader44"></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>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; LINE-HEIGHT: 110%; TEXT-INDENT: -21.3pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">II.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Credit Risk</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></I></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Concentration of credit risk on trade receivables</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">A substantial part of the Company&#8217;s sales is made to distributors, supermarkets and retailers,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> 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></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Concentration of credit risk on counterpart</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" 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></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The selection process of financial institutions authorized to operate as the Company&#8217;s counterparty 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></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" 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></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P>

<P style="VERTICAL-ALIGN: top; TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">As of June 30, 2016, the Company held its main short-term investments with the following financial institutions: Banco do Brasil, Bradesco, Bank Mendes Gans, Caixa Econ&#244;mica Federal, Citibank, Ita&#250;-Unibanco, JP Morgan Chase, Merrill Lynch, Santander e Toronto Dominion Bank. The Company had derivative agreements with the following financial institutions: Banco Bisa, Barclays, BNB, BNP Paribas, Bradesco, Citibank, Deutsche Bank, Ita&#250;, Goldman Sachs, JP Morgan Chase, Macquarie, Merrill Lynch, Morgan Stanley, Santander, ScotiaBank e TD Securities.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: top; TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">The carrying amount of cash and cash equivalents, investment securities, trade receivables excluding prepaid expenses, recoverable taxes and derivative financial instruments are disclosed net of provisions for impairment and represents the maximum exposure of credit risk as of June 30, 2016. There was no concentration of credit risk with any counterparties as of June 30, 2016.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>

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

<a name="_bclFooter44"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>45</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></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="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 0in 21.3pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">III.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">&nbsp;Liquidity Risk</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">believes that</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">cash flows</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">from operating activities</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">cash</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">cash</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">equivalents</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">short-term investments</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, together </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">with</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the derivative </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">financial instruments and access to loan facilities are sufficient to finance capital expenditures, financial liabilities and dividend payments in the future.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 0in 21.3pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">IV.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Capital management</FONT></B></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev S.A. is continuously optimizing its capital structure targeting to maximize shareholder value while keeping the desired financial flexibility to execute the strategic projects. Besides the statutory minimum equity funding requirements that apply to the Company&#8217;s subsidiaries in the different countries, Ambev S.A. is not subject to any externally imposed capital requirements.&nbsp; When analyzing its capital structure, the Company uses the same debt ratings and capital classifications as applied in the Company&#8217;s financial statements.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments</FONT></B></FONT></P>

<P style="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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(a) </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments categories</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 0.5in"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Management</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of the financial</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">instruments held by the Company is</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> effected through </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">operational strategies</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and internal controls</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">to assure</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">liquidity,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">profitability</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and transaction security</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> transactions are </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">regularly reviewed</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> for the effectiveness </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">of</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">risk exposure</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">that</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">management</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">intends</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">to cover</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(foreign exchange,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">interest rate,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> etc.).</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The table below shows all financial instruments recognized in the financial statements, </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">segregated </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">by</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">category</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">:</FONT></FONT></P>

<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: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="24%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="76%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">06/30/2016 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.5in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Loans and receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Held for trading</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Financial assets/liabilities at fair value through profit or loss</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Derivatives hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Financial liabilities through amortized cost</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 0.5in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Financial assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,729,655</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,729,655</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Investment securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">87,790</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">263,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">351,683</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Trade receivables excluding prepaid expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,822,848</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">5,822,848</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Financial instruments derivatives</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">24,021</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">294,533</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">318,554</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">11,552,503</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">87,790</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">287,914</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">294,533</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,222,740</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Financial liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Trade payables and other liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,931,946</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">9,657,099</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">14,589,045</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Financial instruments derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">23,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,200,749</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,223,957</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Interest-bearning loans and borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,633,324</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">3,633,324</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=windowtext face="times new roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">4,955,154</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">1,200,749</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">13,290,423</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">19,446,326</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<a name="_bclFooter45"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>46</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_46"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader46"></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>

<DIV align=left>

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



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="74%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">12/31/2015 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Loans and receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=#000000 face="times new roman">Held for trading</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=#000000 face="times new roman">Financial assets/liabilities at fair value through profit or loss</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=#000000 face="times new roman">Derivatives hedge</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=#000000 face="times new roman">Financial liabilities through amortized cost</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=#000000 face="times new roman">Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Financial assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">13,620,161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">13,620,161</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">118,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">215,106</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">333,734</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Trade receivables excluding prepaid expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">6,556,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">6,556,780</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Financial instruments derivatives</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">449,346</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,114,411</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,563,757</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">20,176,941</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">118,628</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">664,452</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">1,114,411</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">22,074,432</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Financial liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Trade payables and other liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">5,558,583</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">13,779,572</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">19,338,155</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">3,975,921</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">842,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">4,818,129</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">Interest-bearning loans and borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">3,599,476</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">3,599,476</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; 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: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">9,534,504</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">842,208</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">17,379,048</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 8pt" color=black face="times new roman">27,755,760</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: none transparent scroll repeat 0% 0%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(b) Classification of financial instruments by type of fair value measurement</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">IFRS 13 </FONT><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Fair Value Measurement</FONT></I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> defines fair value as the price that would be received to sell an</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.</FONT></FONT></P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Also pursuant to IFRS 13, financial instruments measured at fair value shall be classified within the following categories</FONT><FONT style="LAYOUT-GRID-MODE: line; BACKGROUND: white; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">:</FONT></FONT></P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: white" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; BACKGROUND: white; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Level 1 &#8211; quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date valuation;</FONT></FONT></P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: white" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Level 2 &#8211; inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: white" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Level 3 &#8211; unobservable inputs for the asset or liability.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: white" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: white" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>47</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_47"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader47"></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 align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial assets</FONT></U></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial asset at fair value through profit or loss</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">263,893</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">263,893</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">215,106</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">215,106</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives assets at fair value through profit or loss</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">11,178</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,843</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">24,021</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">161,766</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">287,580</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">449,346</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives - operational hedge</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">151,537</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">142,996</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">294,533</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">177,194</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">497,403</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">674,597</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Derivatives - net investment hedge</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">63,069</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">376,745</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">439,814</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">426,608</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">155,839</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">582,447</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">617,135</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,161,728</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,778,863</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial liabilities</FONT></U></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial liabilities at fair value through profit and loss<SUP> (i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,931,946</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,931,946</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,558,583</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,558,583</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives liabilities at fair value through profit or loss</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5,584</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">17,624</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">23,208</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">139,475</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,836,446</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,975,921</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives - operational hedge</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">111,695</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,075,580</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,187,275</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">121,709</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">333,937</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">455,646</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives - fair value hedge</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13,474</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13,474</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,291</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,291</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Derivatives - net investment hedge</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">74,409</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">283,862</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">358,271</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">117,279</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,106,678</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,931,946</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">6,155,903</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">335,593</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,482,536</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,558,583</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,376,712</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) Refers to the put option granted on subsidiary as described in Note 13 d(4).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Reconciliation of changes in the categorization of Level 3</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="76%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Financial liabilities at December 31, 2015 <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5,558,583</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="76%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 8.8pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Acquisition of investments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">144,080</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="76%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total gains and losses in the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(770,717)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="76%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.8pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Losses recognized in net income</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">308,595</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="76%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.8pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gain recognized in equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,079,312)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="76%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Financial liabilities at June 30, 2016 <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,931,946</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 115%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) The liability was recorded under &#8220;Other liabilities&#8221; on the balance sheet.</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c) Fair value of financial liabilities measured at amortized cost</FONT></B></FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company&#8217;s liabilities, interest-bearing loans and borrowings, trade payables excluding tax payables, are recorded at amortized cost according to the effective rate method, plus indexation and foreign exchange gains/losses, based on closing indices for each exercise.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Had the Company recognized its financial liabilities measured at amortized at cost, at market value, it would have recorded an additional gain, before income tax and social contribution, of approximately R$3,615 on June 30, 2016 (loss of R$5,465 on December 31, 2015), as presented in the table below:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 110%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Book</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Market</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Difference</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Book</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Market</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Difference</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">International financing (other currencies)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,804,323</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,804,323</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,252,991</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,252,991</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">FINEP - Local currency</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">87,281</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">87,281</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">87,281</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">87,281</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">BNDES - Local currency</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,133,896</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,133,896</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,510,974</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,510,974</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">BNDES - Foreing currency</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">70,349</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">70,349</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">158,959</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">158,959</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bond 2017</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">290,376</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">286,761</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,615</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">275,506</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">280,971</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,465)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Tax incentives</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">121,622</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">121,622</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">182,022</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">182,022</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Debenture</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">99,673</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">99,673</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">98,866</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">98,866</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Finance leasing- Foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">25,804</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">25,804</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">32,877</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">32,877</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade and other payables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,657,099</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,657,099</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,779,572</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,779,572</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13,290,423</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13,286,808</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,615</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,379,048</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,384,513</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,465)</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter47"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>48</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></FONT></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></DIV>

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



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

&nbsp; <A name="page_48"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader48"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The criteria 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 June 30, 2016, being approximately 95.59% for Bond 2017 (93.66% at December 31, 2015).</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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, where the difference between the result of the asset and liability amount generates the swaps market value. For the traded derivative financial instruments, the fair value is calculated according to the adjusted exchange-listed price.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; 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 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">financial </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">instruments, as of June 30, 2016 the Company held R$586,791 in investments securities or cash investments available on demand, classified as cash and cash equivalents (R$924,033 on December 31, 2015).</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Offsetting of financial assets and liabilities</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">For financial assets and liabilities subject to settlement agreements by the net or similar agreements, each agreement between the Company and the counterparty allows this type of settlement when both parties make this option. In the absence of such election, the assets and liabilities will be settled by their amounts, but each party shall have the option to settle on net, in case of default by the counterparty.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">22. COLLATERAL AND CONTRACTUAL COMMITMENTS WITH SUPLLIERS, ADVANCES FROM CUSTOMERS AND OTHER</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Collateral given for own liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,173,612</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,538,335</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other commitments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">758,498</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">798,759</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,932,110</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,337,094</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Commitments with suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6,123,262</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">9,062,775</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Commitments - Bond 2017</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">300,000</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">300,000</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6,423,262</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">9,362,775</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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$1,932,110 as at </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">June 30</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, 2016 (R$2,337,094 as at December 31, 2015), &nbsp;including </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$592,324 (R$620,204 as at December 31, </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">2015)</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> of cash guarantees. The deposits in cash used as guarantees are presented as part of the receivables. To meet the guarantees required by derivative exchanges and/or counterparties contracted in certain derivative financial instrument transactions, Ambev S.A. maintained as at </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">June 30</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, 2016, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$586,791 (R$924,033 as at December 31, 2015) </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in highly liquid financial investments or in cash (Note 21 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">). </FONT></FONT></P>

<a name="_bclFooter48"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>49</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_49"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader49"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Ambev S.A. is guarantor of the Bond 2017, in amount of R$300,000, remunerated at 9.5% per year, with semiannual interest payments and final maturity in July 2017.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: white" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Future contractual commitments as at </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">June 30</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, 2016 and </FONT><FONT style="LINE-HEIGHT: 110%; BACKGROUND: white"><FONT style="LAYOUT-GRID-MODE: line; BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">December 31, 2015 are as follows:</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Less than 1 year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">4,184,359 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,105,513</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Between 1 and 2 years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">1,538,989 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,269,476</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">More than 2 years</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">699,914 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">987,786</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=PT-BR color=black face="times new roman">6,423,262 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">9,362,775</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">23. CONTINGENCIES</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="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><FONT style="BACKGROUND: white; FONT-SIZE: 12pt" lang=EN-US color=#0d0e00 face="Times New Roman">Due to their nature, such legal proceedings and tax matters involve inherent uncertainties including, but not limited to, court rulings, negotiations between affected parties and governmental actions, and as a consequence the Company&#8217;s management cannot at this stage estimate the likely timing of the resolution of these matters. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="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="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 12 &#8211; </FONT><I><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Provisions</FONT></I><FONT style="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="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">PIS and COFINS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">1,389,392 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">860,304 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">ICMS and IPI</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">11,545,376 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">10,379,144 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">IRPJ and CSLL</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">20,192,553 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">16,358,816 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">Labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">181,570 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">188,760 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">Civil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">4,566,222 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">5,054,103 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">801,213 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">502,306 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">38,676,326 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" color=black face="times new roman">33,343,433 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter49"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>50</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_50"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader50"></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 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="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></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="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></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">possible loss:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">There were no significant changes in principal lawsuits </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">with </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a likelihood of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">possible loss </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">in relation to those presented in the financial statements for the year ended December 31, 2015, except for the cases presented below:</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Brazilian Federal Taxes</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">Special goodwill reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In June 2016, Ambev received a new tax assessment charging the remaining value of the goodwill amortisation, related to InBev Brasil&#8217;s merger with Ambev, from 2011 to 2013.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev management estimates possible losses in relation to the total amortisation period to be approximately R$7.4 billion as of 30 June 2016 (R$4.6 billion as of 31 December 2015). In the event that Ambev is required to pay these amounts, AB InBev will reimburse Ambev the amount proportional to the benefit received by it pursuant to the merger protocol, as well as the related costs.</FONT></FONT></P>

<P style="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="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Disallowance of taxes paid abroad</FONT></I></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></I></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=windowtext face="Times New Roman">In June 2016, Ambev received new tax assessments from the Brazilian federal tax authorities related to the disallowance of deductions associated with alleged unproven taxes paid abroad. Ambev management estimates the possible losses related to these assessments to be approximately R$2.5 billion as of 30 June 2016 (R$1.9 billion as of 31 December 2015).</FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">PIS/COFINS over bonus products</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In December 2015, Ambev received a tax assessment issued by the Brazilian federal tax authorities, relating to amounts allegedly due under Integration Programme / Social Security Financing Levy (PIS/COFINS) over bonus products granted to its customers in the first quarter of 2011. In March and June 2016, Ambev received new assessments related to the same issue, so that the total amount considered as possible loss was increased to R$ 862.4 million as of 30 June 2016 (R$342.7 million as of December 31, 2015). Ambev filed defenses against these assessments and currently awaits judgment by the Administrative Court. No related provision has been made.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">ICMS &#8211; PRODEPE</FONT></I></P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In March, 2016, Ambev had a partial victory concerning the tax assessment issued by the State of Pernambuco charging ICMS value-added tax differences related to February 2014, based on an alleged non-compliance with a state tax incentive agreement, PRODEPE, of which the respective fine was cancelled at the administrative court, in a definitive decision. Considering that the second assessment issued in 2015 discusses, in part, the same fine, Ambev has classified </FONT></FONT>

<a name="page_51"></a>
<FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">the correspondent amount as remote, considering it will probably also be cancelled by the administrative court. Therefore, as to the end of June, 2016, the amount under discussion considered as a possible loss was reduced to approximately R$382.6 million (R$665.9 million as of December 31, 2015), for which no related provision has been made.</FONT></FONT></P>

<a name="_bclFooter50"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>51</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp;
<A name=page_51></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader51"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><I><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman">ICMS-ST Unconditional Discounts</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">In October 2015 and January 2016, Ambev paid the amounts related to the state of Rio de Janeiro&#8217;s proceedings discussing ICMS value-added tax with respect to unconditional discounts granted by the Company from January 1996 to February 1998, under an incentive tax payment program granted by such State to be approximately R$271 million. Ambev management estimates that the total amount involved in the remaining proceedings, as to the end of June, 2016, is approximately R$514,4 million (R$861.6 million as of December 31, 2015), classified as possible loss and for which no related provision has been made. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Contingent assets</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</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 in consolidated financial statements, except when the realization of income is virtually certain.</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><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter51"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>52</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp;
<A name=page_52></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader52"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">24. ACQUISITION OF SUBSIDIARIES</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">As mentioned on Note 1 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Corporate information</FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, the following table summarizes the main acquisitions as the consideration paid and the provisional allocation of the assets acquired and liabilities assumed as recognized on the acquisition date:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" color=black face="times new roman">Mark Anthony </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" color=black face="times new roman">Banks Holding Limited </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">115</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">50,184</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">36,746</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">19,365</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">54,484</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Other assets</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,974</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">13,801</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">22,454</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">155,215</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">16,279</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">10,320</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">115,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">325,231</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">419,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">299,732</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Investments in associates</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">245,813</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">534,359</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">897,375</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(31,612)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(17,095)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(11,335)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Wages and salaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(4,322)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(3,122)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Dividends payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(4,465)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Income tax and social contribution payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(1,297)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Taxes and contributions payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">4,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(7,473)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Other liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(193)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(7,603)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(31,741)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(52,390)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(35,610)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(3,277)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(38,887)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Net identifiable assets and liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">525,072</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">961,313</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Goodwill on acquisition</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">871,965</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Non-controlling interests share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(86,534)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Prior year payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(554,393)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Cash acquired</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(115)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(50,184)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Net cash outflow / (inflow)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,396,922</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">270,202</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">25. NON-CASH ITEMS</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company carried out the following investment and financing activities not involving cash:</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%" noWrap>

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Acquisition of property, plant and equipment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">105,558</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">105,558</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Acquisition of investments payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">278,602</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">4,998</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">255,594</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">4,998</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cash financing cost other than interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">57,667</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,315,846</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">14,866</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,280</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=windowtext face="times new roman">Sponsorship contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">10,950</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">10,950</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Transfer of sale of property, plant and equipment to sale of operations in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">23,845</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">23,845</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(1,565)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(1,565)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR></TABLE></DIV>

<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>

<a name="_bclFooter52"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>53</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp;
<A name=page_53></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader53"></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 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">26. RELATED PARTIES</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 the Company). The Antitrust Compliance and Related Parties Committee of the Company is required to advise the Board of Directors of the Company in matters related to transactions with related parties.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 108%" face="times new roman"><FONT style="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 participate in Stock Option Plan (Note 20 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Share-based payments</FONT></I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="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 are as follows:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Six-month period ended:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Three-month period ended:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Short-term benefits<SUP> (i)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">10,595</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">19,465</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">3,926</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">3,878</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Share-based payments <SUP>(ii)</SUP></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">19,682</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">13,623</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">7,757</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,502</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Total key management remuneration </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">30,277</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">33,088</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">11,683</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">9,380</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 and restricted stocks granted to management. These amounts exclude remuneration paid to members of the Fiscal Council</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 20 &#8211; </FONT><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Share-based payments</FONT></I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">), the Company no longer has any type of transaction with the Management members or pending balances receivable or payable in its balance sheet.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<a name="_bclFooter53"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>54</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp;
<A name=page_54></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader54"></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Transactions with the Company's shareholders:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">a</FONT></I></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">) Medical, </FONT></I></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">dental</FONT></I></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></I></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">and other</FONT></I></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> </FONT></I></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">benefits</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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 Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefici&#234;ncia (&#8220;Funda&#231;&#227;o Zerrenner) is one of Ambev S.A.&#8217;s shareholders, and at June 30, 2016 held 9.98% 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 June 30, 2016 and December 31, 2015, 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 these dates. 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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$124,938</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> in the six-month period ended June 30, 2016 (R$105,019 as of June 30, 2015), of which </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$107,308</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$93,082 as of June 30, 2015) related to active employees and </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">R$17,629</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> (R$11,936 as of June 30, 2015) related to retirees.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; 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) Leasing </FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; 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"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Ambev S.A., 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></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">c) Leasing &#8211; Ambev S.A. head office</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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. has a leasing agreement of two commercial sets with Funda&#231;&#227;o Zerrenner in the annual amount of R$3,255, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">maturing on January, 2020.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"></FONT></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">d) 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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="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, Paraguay, El Salvador, Nicaragua, Peru, Uruguay and, starting in 2016, Chile. In addition, the Company produces and distributes Stella Artois products under license to ABI in Brazil and Canada and, by means of a license granted to ABI, it also distributes Brahma&#8217;s product in the United States and several countries such as the United Kingdom, Spain, Sweden, Finland and Greece. The amount recorded was R$1,075 (R$840 as of June 30, 2015) and R$197,962 (R$178,060 as of June 30, 2015) as licensing income and expense, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P>

<a name="_bclFooter54"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>55</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&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="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Ambev S.A. has licensing agreements with the Group Modelo, subsidiaries of ABI, for to import, promote and sell products Corona (</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Corona Extra</FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Corona Light</FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Coronita</FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">, </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Pacifico</FONT></I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman"> and </FONT><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Negra Modelo</FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">) in countries of the Latin America and the Canada.</FONT></FONT></P>

<P style="MARGIN: 0in 0in 12pt"><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">e) Platform e-commerce</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The Company has an agreement with the company B2W - Companhia Digital S.A. to manage the company&#8217;s platform of e-commerce named &#8220;Partner Ambev&#8221; and &#8220;Emp&#243;rio da Cerveja&#8221;. The contract has as object to trade Ambev S.A. products through websites. Both parties have the same equity holders. On June 30, 2016, B2W and the Company were negotiating a new model of contract of management for e-commerce platform.</FONT></FONT></P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Transactions with related parties</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">06/30/2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Trade receivables <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other Trade receivables <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Trade payables <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other Trade payables <SUP>(i)</SUP> </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB InBev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">23,333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">5,028</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(68,249)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(354)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB Package</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(43,457)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">357</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">8,546</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(14)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(1,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB USA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">37,539</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,109</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(181,224)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(390)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(317,057)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Inbev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">18,304</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(19,418)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(206)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">ITW International</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(210,736)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">2,238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(36,307)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(55,776)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,610</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">1,148</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(10,972)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(3,180)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">62,975</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">41,373</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(676,698)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(271,700)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><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></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">12/31/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Trade receivables <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other Trade receivables <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Trade payables <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other Trade payables <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Dividends payables </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB InBev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">67,496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">18,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(159,627)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB Package</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(48,787)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">AB USA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">15,633</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">32,115</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(164,847)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(477)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Ambrew</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(686)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">582</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(246,370)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Inbev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">19,486</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(14,067)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">ITW International</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(256,365)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">814</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(85,809)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(62,697)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">913</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">6,623</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(5,089)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(5,322)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">84,624</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">77,597</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(724,596)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(324,861)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 9pt" color=black face="times new roman">(686)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%; BACKGROUND: yellow" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=windowtext face="times new roman">(i) The amount represents the marketing operations (purchase and sale) and the reimbursement between the companies of the group. </FONT></FONT></P><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face="times new roman"></FONT>

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

<a name="_bclFooter55"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>56</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT></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>

&nbsp; <A name="page_56"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader56"></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; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">The tables below represent the transactions with related parties, recognized in the income statement:</FONT></FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="27%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">&nbsp;Six-month period ended: 06/30/2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Three-month period ended: 06/30/2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Company</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Buying / Service fees / Rentals</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Sales</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Royalties</FONT></I></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"> / Benefits</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Buying / Service fees / Rentals</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Sales</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Royalties</FONT></I></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"> / Benefits</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">AB InBev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(9,394)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(18,996)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(6,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(3,426)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">AB USA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(83,033)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">26,950</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(151,683)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(46,970)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,456</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(88,134)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(283,665)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(25,570)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(107,677)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">278</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(18,975)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">InBev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(37,352)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(19,981)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(33,828)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(25,065)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(41)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(39,768)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(637)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,116)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(312)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(487,040)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">27,330</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(196,886)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(223,007)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">12,693</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(110,847)</FONT></B></P></TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Six-month period ended: 06/30/2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">&nbsp;Three-month period ended: 06/30/2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Company</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Buying / Service fees / Rentals</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Sales</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Royalties</FONT></I></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"> / Benefits</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Buying / Service fees / Rentals</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Sales</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Royalties</FONT></I></B><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman"> / Benefits</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">AB InBev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(28,106)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,721)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(27,039)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(5,359)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">AB USA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(67,495)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">19,977</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(129,697)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(38,729)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">10,823</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(79,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,839)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">404</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(27,313)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(17,682)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">248</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(19,128)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">InBev</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(30,065)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(18,219)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Modelo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(263,331)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(122,102)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(41,548)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(506)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(26,910)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(261)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(448,384)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">20,381</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(175,237)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(250,681)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">11,071</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" color=black face="times new roman">(104,384)</FONT></B></P></TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt; TEXT-DECORATION: none" lang=EN-US color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">Denomination used in the tables above</FONT></U><FONT style="LAYOUT-GRID-MODE: line; 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="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%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=black face="times new roman">Ambrew S.A. (&#8220;Ambrew&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=black face="times new roman">Anheuser-Busch InBev N.V. (&#8220;AB InBev&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=black face="times new roman">Anheuser-Busch Inbev Services LLC (&#8220;AB Services&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES color=black face="times new roman">Anheuser-Busch Inbev USA LLC (&#8220;AB USA&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=black face="times new roman">Anheuser-Busch Packaging Group Inc. (&#8220;AB Package&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES color=black face="times new roman">Cervecer&#237;a Modelo de Guadalajara S.A. (&#8220;Modelo&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.65pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES color=black face="times new roman">Cervecer&#237;a Modelo de Mexico S. de R.L. de C.V. (&#8220;Cervecer&#237;a Modelo&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.8pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=black face="times new roman">Inbev Belgium N.V. (&#8220;Inbev&#8221;)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.8pt; PADDING-TOP: 0in" vAlign=top width="100%" noWrap>

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" color=black face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" color=black face="times new roman">Interbrew International B.V. (&#8220;ITW International&#8221;)</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><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></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">27. EVENTS AFTER THE REPORTING PERIOD</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(i) On July, 2016, the subsidiary Labatt Brewing acquired an loan in the amount of R$1.3 billion maturing within one year.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US color=windowtext face="times new roman">(ii) On July 21<SUP>st</SUP>, 2016, the Argentine Congress approved Law No. 27,260 which provides, among other considerations, the elimination of withholding income tax on dividends declared. The law enforcement is subject to a decree. If and when the decree will be issued, the Company will reverse the deferred income tax on retained earnings in Argentina, equivalent to R$374 million on June 30, 2016.</FONT></FONT></P></DIV>

<a name="_bclFooter56"></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: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>57</FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<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;August 12, 2016</FONT></FONT></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>

<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">Ricardo Rittes de Oliveira Silva</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">Ricardo Rittes de Oliveira Silva</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>

<DIV id=FTR>

<DIV style="WIDTH: 100%" id=GLFTR align=left><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; COLOR: #000000; FONT-SIZE: 8pt"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">&nbsp; </FONT></FONT></DIV></DIV>

<DIV id=PN>

<DIV style="TEXT-ALIGN: center; WIDTH: 100%"><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">&nbsp; </FONT></FONT></DIV></DIV>

<DIV id=HDR>

<DIV style="WIDTH: 100%" id=GLHDR align=right><FONT style="DISPLAY: inline; FONT-FAMILY: 'Times New Roman; COLOR: #000000; FONT-SIZE: 8pt"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">&nbsp; </FONT></FONT></DIV></DIV></DIV>

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



<DIV>&nbsp;</DIV>

<DIV></DIV>

<DIV></DIV>

<DIV></DIV></DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
