<SEC-DOCUMENT>0001292814-18-001644.txt : 20180509
<SEC-HEADER>0001292814-18-001644.hdr.sgml : 20180509
<ACCEPTANCE-DATETIME>20180509065619
ACCESSION NUMBER:		0001292814-18-001644
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20180630
FILED AS OF DATE:		20180509
DATE AS OF CHANGE:		20180509

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:		18816606

	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>ambevsapr1q18_6k.htm
<DESCRIPTION>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS
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<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>
<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>
<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of May, 2018 </B></FONT></DIV>
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<FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1565025</B></FONT></DIV>
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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>AMBEV S.A. </B></FONT></DIV>
<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Exact name of registrant as specified in its charter) </FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>AMBEV S.A. </B></FONT></DIV>
<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Translation of Registrant's name into English)</FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<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>
<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>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>1</FONT></FONT></FONT></P>
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<P style="MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 19pt" color=#735b3b face="arial narrow,sans-serif">AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>S&#227;o Paulo, May 9, 2018</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> &#8211; Ambev S.A. [B3: ABEV3; NYSE: ABEV] announces today its results for the 2018 first quarter. The following operating and financial information, unless otherwise indicated, is presented in nominal </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> and prepared according to International Financial Reporting Standards (IFRS), and should be read together with our financial information for the three-month period ended March 31, 2018 filed with the CVM and submitted to the SEC.</FONT></P>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">OPERATING AND FINANCIAL HIGHLIGHTS</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Net revenue: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Top line was up 5.9% in 1Q18, as strong performance in Latin America South (LAS) (+24.6%) and Central America and the Caribbean (CAC) (+8.7%) and a flattish performance in Canada (+0.5%) were partially impacted by Brazil (-1.8%). In Brazil, volume decline of 11.0% was almost fully offset by a healthy net revenue per hectoliter (NR/hl) growth of 10.3%. In LAS, volume was up by a solid 5.7% and NR/hl rose by 17.8%. In CAC, volume and NR/hl grew by 4.3% and 4.2%, respectively. And, in Canada, volume marginal decline of 0.4% was offset by NR/hl growth of 1.0%. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cost of goods sold (COGS): </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>COGS and cash COGS (excluding depreciation and amortization) were flattish in the quarter (+0.2% and -0.3%, respectively). On a per hectoliter basis, COGS (COGS/hl) was up&nbsp;6.3% while cash COGS grew by 5.8%, mainly due to inflationary pressures in Argentina and higher commodities prices, partially offset by favorable FX in LAS and Brazil.&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Selling, general &amp; administrative (SG&amp;A) expenses: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>In 1Q18 SG&amp;A and cash SG&amp;A (excluding depreciation and amortization) <FONT style="FONT-SIZE: 10pt" face=Arial>increased by </FONT>6.8% and&nbsp;6.4%, respectively, in line with our weighted average inflation (approximately 6.7%). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>EBITDA, gross margin and EBITDA margin: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Normalized EBITDA reached R$ 4,638.7 million (+10.1%) in 1Q18, with gross margin of 61.7% (+210bps) and EBITDA margin of 39.9% (+160bps). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Normalized net profit and EPS: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Normalized Net Profit was R$ 2,610.9 million in 1Q18, 12.7% higher than in 1Q17, as the EBITDA organic growth and the reduction of net financial expenses were partially impacted by a higher tax rate. Normalized EPS in the quarter was R$ 0.16 (+13.6%). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash generation and CAPEX: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash flow from operating activities before changes in working capital and provisions was R$ 4,651.7 million&nbsp;(+1.6%) while CAPEX reached R$ 472.7 million (-15.5%). </FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=arial,sans-serif>Payout and financial discipline: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=arial,sans-serif>In <FONT style="FONT-SIZE: 10pt" face=Arial>1Q18</FONT>, we have paid R$ 1.1 billion in dividends. As of March 31, 2018, our net cash position was R$ 3,497.9 million</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Financial highlights - Ambev consolidated</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total volume</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 41,305.1 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 38,915.5 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-5.8%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-5.8%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,241.8 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,640.2 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.5%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.9%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,718.7 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,179.5 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.9%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.7%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>59.8%</FONT></I></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>61.7%</FONT></I></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>190 bps</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>210 bps</FONT></I></P>
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<TR style="HEIGHT: 1pt">
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,356.2 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,638.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.5%</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.1%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>38.7%</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>39.9%</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>120 bps</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>160 bps</FONT></I></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></I>&nbsp;</P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,289.8 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,597.6 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.4%</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized profit</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,316.0 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,610.9 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>12.7%</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>EPS (R$/shares)</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.14 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>14.3%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EPS (R$/shares)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.14 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.6%</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 4pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Note:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif> Earnings p</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4b3a2e face=arial,sans-serif>er share calculation is based on outstanding shares (total existing shares excluding shares held in treasury).</FONT></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>2</FONT></FONT></FONT></P>
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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>We started the year delivering, on a consolidated basis, top line and EBITDA growth of 5.9% and 10.1%, respectively, accompanied by margin expansion of 160bps to 39.9%.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>For Beer Brazil, as flagged in our FY17 results, volume was adversely impacted by a soft industry that, according to our estimates, declined between low and mid-single digit, as a result of an earlier Carnival and poor weather. We also faced a tough comparable in 1Q17, during which our volume grew by 3.4%, considerably outperforming the industry. V</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=arial,sans-serif>olume shortfall was almost fully offset by a healthy NR/hl growth of 7.7%, driven by our continued revenue management initiatives coupled with the carry-over of the price adjustment implemented in 3Q17. Additionally, we posted another quarter of solid cost performance, benefiting from favorable FX, leading to EBITDA increase of 5.2% and margin expansion of 260bps to 43.8%. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Our Non Alcoholic Beverages business in Brazil (NAB Brazil)</FONT><SUP><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>1</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif> also had a challenging quarter in terms of volume (-19.4%). Similarly to Beer, NAB faced a hard comparable in 1Q17, during which the soft drink industry was down high single digit whilst our volume was flattish. Additionally, the industry is still being affected by low discretionary spending, falling, as we estimate, by mid-single digit in 1Q18. Nonetheless, a solid NR/hl growth (+16.2%) resulting from revenue management initiatives and the annualization of the price increase implemented in the second half of 2017 contributed to EBITDA growth of 6.1% and margin expansion of 350bps to 29.5%. </FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Despite short term volume volatility in Brazil, we remained consistent in our commercial strategy, leveraging our growth platforms and making good progress in each of them to further pave the way for sustainable long term growth:</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 6pt 0.75in; TEXT-INDENT: -17.85pt">
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<FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Elevate the Core</FONT></B></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>During the quarter, we launched Antarctica&#8217;s new Visual Brand Identity (VBI). Built upon the results and lessons learned with both Skol and Brahma, Antarctica&#8217;s new VBI is expected to be a major success, exploring the brand&#180;s tradition and quality.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Brahma is building momentum as the 2018 FIFA World Cup in Russia approaches. The brand&#8217;s most recent action was the re-printing of historic labels that adorned its bottles during the years in which Brazil won the World Cup: 1958, 1962, 1970, 1994 and 2002. The new labels were distributed across the whole country with an incredibly positive response from consumers.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Brahma Extra, with its three variants &#8211; Lager, Red Lager and Weiss &#8211; delivered a strong performance in 1Q18, with volume growing almost 100% and reaching more than 1% of our beer volume in Brazil.</FONT></P>
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<FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Accelerate Premium</FONT></B></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Our global portfolio of premium brands, comprised of Budweiser, Stella Artois and Corona, grew by double digits during the quarter, meeting the raising awareness of Brazilians for premium brands while delivering memorable experiences. </FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: super" color=#4b3a2e face="century gothic,sans-serif">1</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face="Century Gothic,sans-serif"> </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=ttfffff97ff3836420t00>From now on, our Carbonated Soft Drinks and Non-Alcoholic and Non-Carbonated Beverages business in Brazil (CSD&amp;NANC Brazil) will be named Non-Alcoholic Beverages Brazil (NAB Brazil).</FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR><STRONG><FONT size=2 face=Helvetica>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></STRONG><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>3</FONT></FONT></FONT></P>
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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Budweiser sponsored the first edition of Lollapalooza in the US back in 1991. Inspired by this heritage, in March the brand was for the first time the sponsor of the festival in Brazil, featuring several iconic singers.&nbsp;&nbsp;</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.75pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>For the second year in a row, Stella Artois launched the global campaign &#8220;Buy a Lady a Drink&#8221;, in partnership with Water.org, to help raise awareness of the global water crisis, inviting its consumers to leave a legacy.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.75pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
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<FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Drive Smart Affordability</FONT></B></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 1in; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>We have been incorporating several initiatives related to packaging and route-to-market which tackle the affordability issue in Brazil with no impact on profitability. </FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>We believe that to foster beer consumption in the country, especially in underdeveloped regions, we have to steadily evolve with these types of initiatives. In this context, given the importance of affordability, we incorporated this as one of our growth platforms. </FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 71.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Our returnable glass bottle strategy in the off-trade remains on track, with the 300ml bottles &#8211; our &#8220;minis&#8221; &#8211; driving more competitive consumer price.</FONT></P>
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<FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Shape In Home &amp; Boost Out Of Home</FONT></B></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 1in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>As we started the year, we continued to accelerate our trade programs</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=arial,sans-serif>, putting great efforts to assure a high service level everywhere. A consistent execution in the on-trade and in the off-trade enables us to step up consumers</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif> experience</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=arial,sans-serif> in both channels</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif> while building strong brands</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" face=arial,sans-serif>.</FONT></P>
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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Regarding our international operations, LAS net revenue increased by 24.6%, with NR/hl growing 17.8%.&nbsp;Volume was up 5.7%, with all the countries performing well, enabling us to reach record beer volume in a first quarter in the region. In Argentina in particular, beer volume grew by high single digit, fueled by Brahma coupled with the successful launch of Quilmes Cl&#225;sica. Our premium portfolio in the country also led the way, with Stella Artois, Corona and local craft brand Patagonia presenting strong growth and driving a positive mix. LAS EBITDA grew by 25.2%, with margin expansion of 30bps to 43.1%. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Our business in CAC also had another solid quarter, with top line up 8.7% and NR/hl up 4.2%. Volume increased by 4.3%, with Dominican Republic and Panama, the two largest countries in the region, delivering strong growth. In the Dominican Republic, we continued to invest in the Presidente brand, promoting a notable Carnival along with a 360 Holy Week activation. And, in Panama, we witnessed the continued success of our portfolio of brands, led by Atlas Golden Light, which delivered to consumers great experiences during two major events: Carnival and the Atlas Golden Fest Festival. CAC EBITDA grew by 18.7%, with margin expansion of 330bps to 38.7%. In US dollars, reported EBITDA grew close to 16.0%.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Finally, in Canada, top line was slightly positive (+0.5%) and NR/hl was up 1.0%, as a favorable brand mix was adversely affected by excise taxes increase. Volume was marginally down (-0.4%), predominantly driven by a soft industry. Our strong portfolio, on the other hand, helped us retain our leading position in the Canadian market, with Bud Light, Corona, Stella Artois and Michelob Ultra all outperforming the industry. Our craft portfolio, comprised of&nbsp;Mill Street and Archibald, among other brands, also had a solid start, growing double digits year over year. EBITDA in Canada declined by 20.4%, mainly explained by cash COGS/hl growth of 26.0%, driven by, among other factors, a hard comparable in 1Q17, when cash COGS/hl decreased by 7.6%.</FONT></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>When we announced our FY17 results, we mentioned that despite facing challenging beer volume in Brazil in 1Q18, we had a positive view for the balance of the year. Our outlook remains unchanged. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Specifically for Beer Brazil, as we turned the page on 1Q18, the trends are more positive. In this context, and also supported by a strong execution during the 2018 FIFA World Cup, we expect beer volume to resume growth in 2Q18.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Regarding NAB Brazil, while we are not satisfied with our volume result this quarter, we are confident that we are implementing the right commercial initiatives needed to strengthen our foundations and deliver an improved volume performance. The 2018 FIFA World Cup should also be supportive, with Guaran&#225; Antarctica as one of the official sponsors of the Brazilian team. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>With that, overall we are optimistic about our business in Brazil and committed to consistently develop our growth platforms, enhancing our brands, improving route to market, fostering RGBs and premium and stepping up our execution in the marketplace, which we believe are the right opportunities worth pursuing. We remain confident that we have a robust plan and a powerful portfolio to further accelerate EBITDA growth. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Regarding our international operations, in LAS and CAC we are enthusiastic with the evolution of our business and we reinforce our positive outlook for both regions. And, in Canada, while not pleased with our performance this quarter, as we cycle COGS hard comparable, we are confident that we will be able to deliver improved results, supported by our strong portfolio of brands. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 4pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Finally, we are also excited that other important countries in which we operate &#8211; Argentina, Uruguay and Panama &#8211; will also participate in the 2018 FIFA World Cup. In this sense, we have a strong plan to execute a memorable 360 activation in all these countries, enhancing the equity of our portfolio of brands.&nbsp; </FONT></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,241.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (263.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,640.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cost of goods sold (COGS)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(4,523.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (4,460.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.2%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,718.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (192.9)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,179.5 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.9%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.7%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Selling, general and administrative (SG&amp;A)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(3,480.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (237.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,667.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.5%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized operating income <BR>
&nbsp;(normalized EBIT)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3,528.6 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (141.3)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382.3 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,769.6 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.8%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.8%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Exceptional items above EBIT</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28.7)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.2 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20.1 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.4)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-70.6%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-70.0%</FONT></P>
</TD></TR>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net finance results</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (872.6)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (544.3)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-37.6%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Share of results of joint ventures</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.0 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.6 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-40.2%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income tax expense</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (338.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (619.9)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>83.1%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,289.8 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,597.6 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.4%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Attributable to Ambev holders</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,199.1 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,516.0 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>14.4%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Attributable to non-controlling interests</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>90.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-10.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized profit</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,316.0 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,610.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>12.7%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Attributable to Ambev holders</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,225.3 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,529.2 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.7%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,356.2 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (155.8)</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438.4 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,638.7 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.5%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.1%</FONT></B></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>6</FONT></FONT></FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>The combination of Ambev&#8217;s operations in Latin America North (LAN), Latin America South (LAS) and Canada&#8217;s business units, eliminating intercompany transactions, comprises our consolidated financial statements. The figures shown below are on an as-reported basis.</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#886d4b face="arial narrow,sans-serif">Volume (million hectoliters)</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#886d4b face="arial narrow,sans-serif">Net revenue per hectoliter (R$)</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#886d4b face="arial narrow,sans-serif">COGS per hectoliter (R$)</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#886d4b face="arial narrow,sans-serif">Normalized EBITDA (R$ million)</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#886d4b face="arial narrow,sans-serif">Normalized EBITDA Margin (%)</FONT></B></P>
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<P style="MARGIN: 0in 0in 4pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif"></FONT></B>&nbsp;</P>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">&nbsp;</DIV> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: right; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>7</FONT></FONT></FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>We delivered during the quarter R$ 11,640.2 million of Net Revenue (+5.9%) and R$ 4,638.7</FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=#4b3a2e face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>million of Normalized EBITDA (+10.1%).</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Ambev</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 41,305.1 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,389.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 38,915.5 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-5.8%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-5.8%</FONT></P>
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<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,241.8 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (263.9)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,640.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.9%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272.2 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.8)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.9%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>12.4%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (4,523.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (4,460.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.2%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (109.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (114.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,976.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,898.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (100.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,718.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (192.9)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,179.5 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.9%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.7%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>59.8%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>61.7%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>190 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>210 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,200.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (204.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,360.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.4%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (280.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (306.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>12.0%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,480.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (237.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,667.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.5%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,528.6 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (141.3)</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382.3 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,769.6 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.8%</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.8%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>31.4%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>32.4%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>100 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>150 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,356.2 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (155.8)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438.4 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,638.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.5%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.1%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>38.7%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>39.9%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>120 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>160 bps</FONT></I></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">&nbsp;</H1></DIV>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>8</FONT></FONT></FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4b3a2e face="Century Gothic,sans-serif"></FONT>&nbsp;</P>
</DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">LATIN AMERICA NORTH (LAN)</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Our LAN region includes Beer Brazil, Non-Alcoholic Beverages Brazil (NAB Brazil) and Central America and the Caribbean (CAC) operations. LAN EBITDA for the quarter totaled R$ 3,030.7 million (+7.1%).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>LAN</FONT></B></P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P>
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<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 30,286.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,900.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 27,385.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-9.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-9.6%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,352.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,330.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,128.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,837.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-9.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-9.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (103.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (103.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,703.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,420.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-10.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-10.5%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (89.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (88.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.1%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,223.6 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.1)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,492.4 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.4%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.4%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>57.4%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>61.3%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>390 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>390 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,104.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,156.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.4%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (221.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (225.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.7%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,326.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (55.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,381.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.4%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-3.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-3.7%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,185.8 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.7)</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204.1 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,388.2 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.3%</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9.3%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>29.7%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>32.6%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>290 bps</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>290 bps</FONT></I></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,832.0 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.2)</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200.9 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,030.7 </FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.0%</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.1%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>38.5%</FONT></I></P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>41.3%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>280 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>290 bps</FONT></I></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>9</FONT></FONT></FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>In 1Q18 we delivered R$ 2,585.6 million of Normalized EBITDA in Brazil (+5.3%), with an EBITDA margin of 41.8% (+280bps). Net revenue decreased by 1.8% in the quarter, with volume decline of 11.0% almost fully offset by a NR/hl growth of 10.3%, that also benefited from the exclusion of the State VAT (ICMS) from the Excise Taxes (PIS/COFINS) basis. Cash COGS and cash COGS/hl were down 13.2% and 2.5%, respectively, while cash SG&amp;A grew by 2.9%.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Brazil</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 27,494.5 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,020.4)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 24,474.1 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.0%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.0%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,294.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (113.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,180.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,664.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,349.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-11.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,297.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,994.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-13.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-13.2%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.5%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,629.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201.4 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,831.1 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.5%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.5%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>57.7%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>62.0%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>430 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>430 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,821.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (52.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,873.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (188.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (189.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.6%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,009.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (53.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,063.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.6%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.5%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,899.9 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141.3 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,041.2 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.4%</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.4%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>30.2%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>33.0%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>280 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>280 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,455.1 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130.5 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,585.6 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.3%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.3%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>39.0%</FONT></I></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>41.8%</FONT></I></P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>280 bps</FONT></I></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>280 bps</FONT></I></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>10</FONT></FONT></FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>In 1Q18, EBITDA for Beer Brazil was R$ 2,330.9 million (+5.2%) with EBITDA margin expansion of 260bps to 43.8%. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Net revenue was down 1.0% in the quarter. Volume was down 8.1% explained by: (i) a soft industry that, according to our estimates, declined between low and mid-single digit, as a result of an earlier Carnival and poor weather; and (ii) a tough comparable in 1Q17, when we considerably outperformed the industry. NR/hl grew by 7.7%, mainly driven by our revenue management initiatives and the carry-over of the price adjustment implemented in 3Q17. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash COGS/hl was down 4.8%, driven by favorable FX, partially impacted by inflation and higher commodity prices. Cash SG&amp;A was up 3.1%, as higher logistics costs affected by operational deleverage were partially offset by below inflation sales &amp; marketing and administrative expenses.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Beer Brazil</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 20,549.2 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,670.0)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 18,879.1 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-8.1%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-8.1%</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 5,370.5 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (54.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 5,315.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.0%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.7%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,113.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,882.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-10.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-10.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (102.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (99.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-3.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-3.1%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,801.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,575.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-12.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-12.6%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-4.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-4.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,256.6 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176.3 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,432.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.4%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.4%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>60.6%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>64.6%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>400 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>400 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,576.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,626.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.1%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (167.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (170.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.6%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,744.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (52.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,796.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.0%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,735.0 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117.9 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,853.0 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.8%</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.8%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>32.3%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>34.9%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>260 bps</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>260 bps</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,214.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,330.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.2%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.2%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>41.2%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>43.8%</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>260 bps</FONT></I></P>
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     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>260 bps</FONT></I></P>
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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>11</FONT></FONT></P></DIV></TD></TR></TABLE>&nbsp; <A name="page_11"></A>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4b3a2e face="Century Gothic,sans-serif"></FONT>&nbsp;</P></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">NAB BRAZIL</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>In 1Q18, EBITDA for NAB Brazil was R$ 254.8 million (+6.1%) with an EBITDA margin expansion of 350bps to 29.5%. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Net revenue was down 6.4%. Volume declined by 19.4%, due to (i) a hard comparable in 1Q17, during which the soft drink industry declined by high single digit and our volume was flattish, and (ii) an industry that is still being compressed by low discretionary spending, falling by mid-single digit in 1Q18, according to our estimates. NR/hl was up 16.2%, as a result of the carry-over of the price adjustment implemented at the end of 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash COGS/hl increased by 4.9%, as favorable FX was impacted by higher commodity prices, especially sugar, that grew more than 30.0% year over year, coupled with volume decline effect in fixed cost dilution. Cash SG&amp;A was up 1.0%, as administrative expenses that increased in line with inflation and logistics costs affected by operational deleverage were partially offset by lower sales &amp; marketing expenses. </FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>NAB Brazil</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,945.3 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,350.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 5,595.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-19.4%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-19.4%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 923.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-6.4%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-6.4%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>16.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>16.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (550.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (466.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-15.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-15.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (79.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (495.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (419.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-15.5%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-15.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.9%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398.2 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.7%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>40.4%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>46.0%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>560 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>560 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (245.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (247.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-7.8%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-7.8%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (265.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (266.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.3%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57.4 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.4%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-1.4%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164.9 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.4 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188.3 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>14.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>14.2%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>17.9%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>21.8%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>390 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>390 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240.2 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.6 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254.8 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>6.1%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>26.0%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>29.5%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>350 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>350 bps</FONT></I></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>12</FONT></FONT></FONT></P></DIV></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT color=#735b3b face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 6pt" color=#735b3b face=verdana,sans-serif></FONT></B></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT style="FONT-FAMILY: Arial"><FONT style="FONT-FAMILY: Arial Narrow"><FONT style="FONT-SIZE: 14pt; FONT-FAMILY: Arial Narrow"><FONT style="COLOR: #886d4b">CENTRAL AMERICA AND THE CARIBBEAN (CAC) </FONT></FONT></FONT></FONT></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>CAC delivered EBITDA of R$ 445.1 million (+18.7%) in 1Q18, with an EBITDA margin of 38.7% (+330bps). In US dollars, reported EBITDA grew close to 16.0%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Top line increased by 8.7%. Volume was up 4.3%, led by a strong performance in the Dominican Republic and Panama. NR/hl was up 4.2%, due to our continued revenue management initiatives.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash COGS/hl was flattish (+0.2%), driven by a tight cost management. Cash SG&amp;A was also flattish (-0.2%), benefiting from cost savings in our non-working money as well as efficiency gains in our working money.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>CAC</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,791.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,911.4 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,057.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.1 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,149.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 394.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (463.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (488.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (166.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (167.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (406.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (426.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.9%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (145.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (146.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.6%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 593.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>11.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>11.5%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>56.1%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>57.5%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>140 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>150 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.1 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.4%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>7.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (316.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (318.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.6%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.1 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-47.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-46.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285.9 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.7)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62.8 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347.0 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>21.4%</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>22.0%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>27.0%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>30.2%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>320 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>330 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>18.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>18.7%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>35.6%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>38.7%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>310 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>330 bps</FONT></I></P></TD></TR></TABLE></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">&nbsp;</H1></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>13</FONT></FONT></FONT></P></DIV></TD></TR></TABLE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4b3a2e face="Century Gothic,sans-serif"></FONT></P></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">LATIN AMERICA SOUTH (LAS)</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>LAS delivered EBITDA of R$ 1,333.0 million (+25.2%) in 1Q18, with an EBITDA margin of 43.1% (+30bps). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Top line increased by 24.6%. Volume was up 5.7%, led by growth in all countries we operate. In Argentina in particular, beer volume grew by high single digit. NR/hl was up 17.8%, driven by our revenue management initiatives and a favorable brand mix.</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif> </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash COGS/hl went up 13.5%, favorably impacted by FX. Cash SG&amp;A increased by 28.0%, driven by phasing of sales &amp; marketing expenditures.</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>LAS</FONT></B></P></TD>

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   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 9,089.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 9,609.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,764.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (351.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,091.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>11.9%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>24.6%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304.1 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>5.8%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>17.8%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,059.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (213.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,168.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>20.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (121.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (964.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95.3 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (192.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (1,061.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.1%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>20.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (106.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (110.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,704.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (246.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 464.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,922.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>12.8%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>27.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>61.7%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>62.2%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>50 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>130 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (598.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (167.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (683.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>14.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>28.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (62.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>18.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (658.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90.3 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (178.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (746.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>13.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>27.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.4 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>nm</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>nm</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,047.2 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (155.3)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271.2 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,163.2 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>11.1%</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>25.9%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>37.9%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>37.6%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-30 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>40 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,203.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (173.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,333.0 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.8%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>25.2%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>43.5%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>43.1%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-40 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>30 bps</FONT></I></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>14</FONT></FONT></FONT></P></DIV></TD></TR></TABLE>&nbsp; <A name="page_14"></A>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">CANADA</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Canada delivered EBITDA of R$ 275.0 million (-20.4%) in 1Q18, with an EBITDA margin of 22.6% (-590bps). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Top line was slightly positive (+0.5%). Volume was marginally negative (-0.4%), driven by a soft industry. NR/hl was up 1.0%, as a favorable brand mix was adversely impacted by excise taxes increase. </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>&nbsp;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Cash COGS/hl was up 26.0%, due to a hard comparable in 1Q17, when cash COGS/hl decreased by 7.6%, and impact of imports. Cash SG&amp;A was down 2.9%, as a result of cost savings in our non-working money, as well as phasing and efficiency gains in our working money. </FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Canada</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>% As</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; 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: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Scope</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Translation</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Growth</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Reported</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>Organic</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Volume ('000 hl)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,929.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,920.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.4%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-0.4%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,125.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87.1 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,218.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 583.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45.3 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (334.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (86.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (454.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>35.6%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>25.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (173.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (236.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>36.2%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>26.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (308.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (416.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>35.1%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>25.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>COGS/hl excl. deprec. &amp; amort. (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (159.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (41.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (216.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>35.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>26.0%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 790.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54.6 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 764.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-3.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-10.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Gross margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>70.3%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>62.7%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-760 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-760 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A excl. deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (498.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (520.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.6%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-2.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A deprec. &amp; amort.</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>nm</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>nm</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>SG&amp;A total</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (496.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (539.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>nm</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>nm</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295.6 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15.6 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93.0)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218.2 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-26.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-31.5%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBIT margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>26.3%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>17.9%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-840 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-840 bps</FONT></I></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320.8 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275.0 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-14.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-20.4%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Normalized EBITDA margin</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>28.5%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>22.6%</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-590 bps</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-590 bps</FONT></I></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">&nbsp;</H1></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | <FONT style="FONT-SIZE: 10pt" face=Arial>15</FONT></FONT></FONT></P>
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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">OTHER OPERATING INCOME/EXPENSES</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Other operating income totaled R$ 257.6 million in 1Q18 (-11.<FONT style="FONT-SIZE: 10pt" face=Arial>5</FONT>%), mainly explained by government grants related to State VAT long-term tax incentives that were down year over year due to lower volumes and revenue geographic mix. </FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Other operating income/(expenses)</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Government grants/NPV of long term fiscal&nbsp; incentives</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>221.9 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194.8 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>(Additions to)/reversals of provisions </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(10.6)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.6)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>(Losses)/gains on disposal of property, plant and equipment and intangible assets</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(5.4)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21.9)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net other operating income/(expenses)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>84.9 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91.3 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290.8 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257.6 </FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>During the first quarter we recorded an expense of R$ 8.4 million in exceptional items (as compared to R$ 28.7 million in 1Q17).</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Exceptional items</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Restructuring</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28.0)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.4)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Costs of new acquisition</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.7)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Exceptional items</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28.7)</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.4)</FONT></B></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>16</FONT></FONT></FONT></P>
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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">NET FINANCE RESULTS</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Net finance results totaled an expense of R$ 544.3 million (-37.6%), explained by: </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Interest income of R$ 103.3 million, driven by our cash balance, mainly in Brazilian reais, US dollars and Canadian dollars;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Interest expenses of R$ 348.1 million, that include interest expenses incurred in connection with the Brazilian Tax Regularization Program &#8211; PERT, as well as a non-cash accrual of approximately R$ 65.0 million related to the put option associated with our investment in the Dominican Republic;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>R$ 182.5 million of losses on derivative instruments, mainly driven by the carry cost of FX hedges, primarily linked to our COGS exposure in Brazil and Argentina;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>Gains on non-derivative instruments of R$ 92.6 million, that comprises a gain related to an adjustment in the fair value of the PUT option in the Dominican Republic, that was partially exercised in January, 2018; and&nbsp;&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=black face=arial,sans-serif>R$ 118.5 million of other financial expenses, mostly driven by interest on contingencies.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Net finance results</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest income</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108.7 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.3 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest expenses</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (402.2)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (348.1)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gains/(losses) on derivative instruments</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(246.6)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (182.5)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gains/(losses) on non-derivative instruments</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(78.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92.6 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="68%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Taxes on financial transactions</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (91.2)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="68%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other financial income/(expenses), net</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (216.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (118.5)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="68%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="68%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net finance results</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (872.6)</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (544.3)</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">DEBT BREAKDOWN</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>As of March 31, 2018 we held a net cash position of R$ 3,497.9 million (down from R$ 7,811.6 million as of December 31, 2017). Consolidated debt corresponded to R$ 4,467.7 million whereas cash and cash equivalents less bank overdrafts totaled R$ 7,953.4 million, down from R$ 10,352.7 million as of December 31, 2017.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Debt breakdown</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>December 31, 2017</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>March 31, 2018</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">
<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>R$ million</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Current</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Non-current</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Total</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Current</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Non-current</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Total</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Local Currency</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>351.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>733.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,084.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>329.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>691.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,021.4 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign Currency</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>969.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>498.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,468.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 2,949.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>497.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 1pt dotted; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 3,446.3 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated Debt</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,321.1 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,231.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 2,553.1 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 3,278.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,188.8 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 4,467.7 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and Cash Equivalents less Bank Overdrafts</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>10,352.7 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 7,953.4 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Current Investment Securities</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>11.9 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>12.2 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net debt/(cash)</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(7,811.6)</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(3,497.9)</FONT></B></P>
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<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>17</FONT></FONT></FONT></P>
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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">PROVISION FOR INCOME TAX &amp; SOCIAL CONTRIBUTION</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>The weighted nominal tax rate for the quarter was 30.3%, compared to 29.6% of 1Q17. The effective tax rate increased from 12.9% to 19.3%, mainly explained by the impact of foreign exchange variation on intercompany transactions, due to the depreciation of the Brazilian real. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>The table below shows the reconciliation for income tax and social contribution provision.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Income tax and social contribution</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit before tax</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,628.3 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,217.5 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Adjustment on taxable basis</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-taxable net financial and other income</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(104.9)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78.3)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Goverment grants (VAT)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (434.4)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (413.7)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Share of results of joint ventures</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(1.0)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.6)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Expenses not deductible</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64.5 </FONT></P>
</TD></TR>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Foreign profits taxed in Brazil</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>34.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (88.4)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,212.8 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,701.0 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Aggregated weighted nominal tax rate</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>29.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>30.3%</FONT></I></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Taxes &#8211; nominal rate </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (655.5)</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (819.5)</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Adjustment on tax expense</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax benefit - interest on shareholders' equity</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>284.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299.7 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax benefit - amortization on tax books</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>36.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18.3 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other tax adjustments</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (118.3)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income tax and social contribution expense</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(338.5)</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (619.9)</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Effective tax rate</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>12.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>19.3%</FONT></I></B></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">SHAREHOLDING STRUCTURE</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>The table below summarizes Ambev S.A.&#8217;s shareholding structure as of March 31, 2018.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Ambev S.A.'s shareholding structure</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>ON</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>% Outs</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Anheuser-Busch InBev</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 9,727,217,492 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>61.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>FAHZ</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,605,713,901 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>10.2%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Market</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,384,418,272 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>27.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Outstanding </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 15,717,349,665 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Treasury</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,797,646 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>TOTAL</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 15,722,147,311 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Free float B3</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,130,569,480 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>19.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Free float NYSE</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,253,848,792 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8.0%</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
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<P></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>18</FONT></FONT></FONT></P>
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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">RECONCILIATION BETWEEN NORMALIZED EBITDA &amp; PROFIT</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Both Normalized EBITDA and EBIT are measures used by Ambev&#8217;s management to measure the Company&#8217;s performance.&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Normalized EBITDA is calculated excluding from Profit the following effects: (i) Non-controlling interest, (ii) Income Tax expense, (iii) Share of results of associates, (iv) Net finance results, (v) Special items, and (vi) Depreciation &amp; Amortization.&nbsp;&nbsp;&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Normalized EBITDA and EBIT are not accounting measures under accounting practices in Brazil, IFRS or the United States of America (US GAAP) and should not be considered as an alternative to Profit as a measure of operational performance or an alternative to Cash Flow as a measure of liquidity. Normalized EBITDA and EBIT do not have a standard calculation method and Ambev&#8217;s definition of Normalized EBITDA and EBIT may not be comparable to that of other companies.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Reconciliation - Profit to EBITDA</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">
<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P>
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     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit - Ambev holders</FONT></B></P>
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     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,199.1 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,516.0 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-controlling interest</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81.7 </FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income tax expense</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 619.9 </FONT></P>
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<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit before taxes</FONT></B></P>
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     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,628.3 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,217.5 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Share of results of joint ventures</FONT></P>
</TD>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(1.0)</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.6)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net finance results</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544.3 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Exceptional items</FONT></P>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.4 </FONT></P>
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<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,528.6 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,769.6 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Depreciation &amp; amortization - total</FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 827.6 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 869.1 </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,356.2 </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,638.7 </FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"> <H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 16pt 0in 10pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LETTER-SPACING: 1.05pt" color=#886d4b face="arial narrow,sans-serif">SUBSEQUENT EVENTS</FONT></B></H1></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>In September 2017, Quilmes, a subsidiary of Ambev, entered into an agreement whereby AB InBev will grant a perpetual license to Quilmes in Argentina for Budweiser and other North American brands upon the recovery of the distribution rights by AB InBev from Compa&#241;ia Cervecer&#237;as Unidas S.A. - CCU. The agreement also foresees the transfer by AB InBev to Quilmes of Cerveceria Argentina Sociedad Anonima Isenbeck and the transfer by Quilmes of some Argentinean brands (Norte, Iguana and Baltica) and related business assets along with US$ 50 million. The closing of the transaction was subject to the approval of the Argentinean antitrust authority and others usual closing conditions. The approval of the Argentinean antitrust authority was granted on April 27, 2018 and the transaction closed on May 02, 2018. The company estimates positive impact of R$ 57 million on profit and loss as result of the accounting practice involving transactions under common control.</FONT></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>19</FONT></FONT></FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Speakers:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bernardo Paiva</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Chief Executive Officer</FONT></I></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Ricardo Rittes</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Chief Financial and Investor Relations Officer</FONT></I></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Language:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>English</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Date:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>May 9, 2018 (Wednesday)<BR>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12:00 (Bras&#237;lia time)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11:00 (EST)<BR>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Phone number:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>US participants</FONT></P>
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     <TD vAlign=top width="24%"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>+1 (844) 839-2182</FONT></TD>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>International participants</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>+1 (412) 317-2503</FONT></P>
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<P style="MARGIN: 0in 0in 12pt">Conference ID<FONT style="FONT-SIZE: 10pt" face=Arial>:</FONT></P>
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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Ambev</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=red face=arial,sans-serif>Please call 15 minutes prior to the beginning of the conference call.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Webcast: The conference call will also be transmitted live through the Internet, available on Ambev&#8217;s website:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=#4b3a2e face=arial,sans-serif>https://webcastlite.mziq.com/cover.html?webcastId=bcdd9e84-c191-4709-b3c6-9cff5193a324</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Playback: The conference call replay through internet will be available one hour after conclusion at Ambev&#8217;s website at the same link above. For Playback through telephone: participants calling from USA: +1 (877) 344-7529 / participants calling from other countries: +1 (412) 317-0088 / Code: 10119220 - enter "1" to start the playback.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>For additional information, please contact the Investor Relations team:</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Nicole Brink</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>+55 (11) 2122-1415</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=PT-BR style="FONT-SIZE: 10.5pt" color=#4b3a2e face=arial,sans-serif>nicole.brink@ambev.com.br</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Andr&#233; Thomaz</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>+55 (11) 2122-1414</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=PT-BR style="FONT-SIZE: 10.5pt" color=#4b3a2e face=arial,sans-serif>andre.thomaz@ambev.com.br</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=#4b3a2e face=arial,sans-serif>ir.ambev.com.br</FONT></B></P>
<P style="MARGIN: 0in 0in 4pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>20</FONT></FONT></FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>This press release segregates the impact of organic changes from those arising from changes in scope or currency translation. Scope changes represent the impact of acquisitions and divestitures, the start up or termination of activities or the transfer of activities between segments, curtailment gains and losses and year over year changes in accounting estimates and other assumptions that management does not consider as part of the underlying performance of the business. Unless stated, percentage changes in this press release are both organic and normalized in nature. Whenever used in this document, the term &#8220;normalized&#8221; refers to performance measures (EBITDA, EBIT, Profit, EPS) before special items adjustments. Special items are either income or expenses which do not occur regularly as part of the normal activities of the Company. They are presented separately because they are important for the understanding of the underlying sustainable performance of the Company due to their size or nature. Normalized measures are additional measures used by management and should not replace the measures determined in accordance with IFRS as indicators of the Company&#8217;s performance. Comparisons, unless otherwise stated, refer to the first quarter of 2017 (1Q17). Values in this release may not add up due to rounding.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" color=windowtext face=arial,sans-serif>Statements contained in this press release may contain information that is forward-looking and reflects management&#8217;s current view and estimates of future economic circumstances, industry conditions, company performance, and finance results. Any statements, expectations, capabilities, plans and assumptions contained in this press release that do not describe historical facts, such as statements regarding the declaration or payment of dividends, the direction of future operations, the implementation of principal operating and financing strategies and capital expenditure plans, the factors or trends affecting financial condition, liquidity or results of operations, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. There is no guarantee that these results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.</FONT></P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>21</FONT></FONT></FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>Ambev - Segment financial information</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>Ambev</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>Organic results</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>Beer</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>Total</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>Consolidated</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q17</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>1Q18</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" color=white face=arial,sans-serif>%</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Volume (000 hl)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 20,549.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 18,879.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-8.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 6,945.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 5,595.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-19.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 27,494.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 24,474.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-27.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,791.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,911.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 9,089.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 9,609.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,929.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,920.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-0.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 41,305.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 38,915.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-5.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 5,370.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 5,315.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-1.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>923.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>864.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-6.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 6,294.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 6,180.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-7.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,057.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,149.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,764.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,091.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>24.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,125.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,218.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 11,241.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 11,640.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>47.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>45.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>56.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>53.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>24.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>COGS</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,113.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,882.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-10.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (550.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (466.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-15.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,664.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,349.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-26.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (463.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (488.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,059.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,168.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>20.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (334.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (454.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>25.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(4,523.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(4,460.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.2%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>46.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>42.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>58.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>52.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.3%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>23.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Gross profit</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,256.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,432.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>373.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>398.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,629.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,831.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>593.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>661.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,704.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,922.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>27.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>790.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>764.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-10.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 6,718.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 7,179.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.7%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>48.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>47.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>54.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>53.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>25.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>SG&amp;A</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,744.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,796.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (265.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (266.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,009.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,063.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (316.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (318.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (658.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (746.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>27.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (496.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (539.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3,480.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3,667.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>49.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.3%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>56.3%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>20.3%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.3%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>222.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>216.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-2.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>56.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-1.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>280.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>273.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-4.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 4.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-46.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (13.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>nm</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(6.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>nm</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>290.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>257.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-11.5%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>76.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>84.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>96.3%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>106.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-5.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-2.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,735.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,853.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>164.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>188.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,899.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,041.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>21.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>285.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>347.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,047.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,163.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>25.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>295.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>218.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-31.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,528.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,769.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>49.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>49.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>53.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>54.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.1%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>29.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>30.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,214.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,330.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>240.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>254.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,455.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,585.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>376.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>445.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,203.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,333.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>25.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>320.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>275.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-20.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 4,356.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 4,638.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.1%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of total</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.8%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.2%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.5%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>56.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>55.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>27.6%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>28.7%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.4%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.9%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></I></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>% of net revenue</FONT></I></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>COGS</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-39.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-35.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-59.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-54.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-42.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-38.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-43.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-42.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-38.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-37.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-29.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-37.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-40.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-38.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Gross profit</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>60.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>64.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>40.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>46.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>62.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>56.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>61.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>62.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>70.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>62.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>59.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>61.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>SG&amp;A</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-32.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-33.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-28.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-30.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-31.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-33.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-29.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-27.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-23.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-24.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-44.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-44.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-31.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-31.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-0.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-0.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>32.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>34.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>17.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>21.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>30.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>33.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>27.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>30.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>37.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>37.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>17.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>31.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>32.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>43.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>29.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>39.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>35.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>38.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>43.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>43.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>28.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>38.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>39.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Per hectoliter - (R$/hl)</FONT></I></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Net revenue</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>261.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>281.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>133.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>154.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>228.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>252.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>378.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>394.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>304.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>321.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>17.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>583.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>634.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>272.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>299.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12.4%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>COGS</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (102.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (99.7)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-3.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (79.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (83.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (96.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (96.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-0.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (166.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (167.8)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (116.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (121.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>13.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (173.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (236.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (109.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (114.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6.3%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Gross profit</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>158.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>181.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>53.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>71.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>32.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>132.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>156.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18.6%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>212.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>227.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>187.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>200.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>20.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>410.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>398.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-9.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>162.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>184.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>13.9%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>SG&amp;A</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (84.9)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (95.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (38.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (47.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>24.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (73.1)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (84.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>15.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (113.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (109.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-3.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (72.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (77.6)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>20.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (257.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (281.0)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (84.3)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; (94.2)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-48.9%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>0.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>nm</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 0.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3.4)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>nm</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 7.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 6.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-11.0%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>84.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>98.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16.2%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>23.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>33.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>69.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>83.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>20.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>102.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>119.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>17.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>115.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>121.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>153.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>113.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-31.1%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>85.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>96.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Normalized EBITDA</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>107.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>123.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.5%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>34.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>45.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>31.7%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>89.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>105.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18.3%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>135.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>152.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>13.8%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>132.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>138.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18.4%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>166.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>143.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-20.0%</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>105.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>119.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>14.6%</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
<IMG border=0 src="bot1.jpg">
</P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>
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<P style="TEXT-ALIGN: center" align=left>
<IMG border=0 src="logo2.jpg" align=left>
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<DIV style="PADDING-BOTTOM: 3.6pt; PADDING-TOP: 3.6pt; PADDING-LEFT: 7.2pt; PADDING-RIGHT: 7.2pt">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>22</FONT></FONT></FONT></P>
</DIV></TD></TR></TABLE>&nbsp;
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<P style="MARGIN: 0in 0in 12pt">&nbsp;</P>
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<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>
<TR style="HEIGHT: 1pt">
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>CONSOLIDATED BALANCE SHEET</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>R$ million</FONT></I></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>December 31, 2017</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>March 31, 2018</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Assets</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Current assets</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%">&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and cash equivalents</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,354.5 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,953.5 </FONT></P>
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<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investment securities</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.2 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366.5 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Trade receivables</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,944.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,537.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Inventories</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,319.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,725.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contributions receivable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,770.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,962.6 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other taxes receivable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 712.4 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other assets</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,367.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,291.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="BORDER-TOP: #886d4b 2.25pt double; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24,718.1 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 2.25pt double; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21,560.6 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-current assets</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investment securities</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143.5 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41.4 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contributions receivable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,312.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,322.3 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deferred tax assets</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,279.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,348.6 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other taxes receivable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200.7 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other assets</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,964.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,389.2 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Employee benefits</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments in joint ventures</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243.8 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Property, plant and equipment</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,822.3 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,276.3 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Intangible</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,674.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,606.8 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Goodwill</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31,401.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31,191.7 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62,133.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60,818.4 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total assets</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86,852.0 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82,378.9 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity and liabilities</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Current liabilities</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Trade payables</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,853.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,000.9 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267.7 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,321.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,278.9 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bank overdrafts</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.8 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Payroll and social security payables</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,047.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 779.9 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Dividends and interest on shareholder&#180;s equity payable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,778.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 747.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution payable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,668.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,506.2 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Taxes and contributions payable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,825.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,390.8 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Put option granted on subsidiary and other liabilities</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,807.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,709.8 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Provisions</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168.7 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,688.5 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,850.3 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-current liabilities</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Trade payables</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145.5 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivative financial instruments </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.4 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30.4 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,231.9 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,188.8 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deferred tax liabilities</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,329.2 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,378.0 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution payable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,418.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,185.2 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Taxes and contributions payable</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 771.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 746.1 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Put option granted on subsidiary and other liabilities</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>429.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345.7 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Provisions</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512.6 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490.2 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Employee benefits</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,310.7 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,250.5 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,180.7 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,760.4 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total liabilities</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38,869.1 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,610.7 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Issued capital</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57,614.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57,710.2 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Reserves</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63,361.1 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63,302.2 </FONT></P>
</TD></TR>
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     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Comprehensive income</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74,966.5)</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74,349.1)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retained earnings</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,160.5 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity attributable to equity holders of Ambev</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>46,008.8 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48,823.8 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-controlling interests</FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,974.0 </FONT></P>
</TD>
     <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 944.4 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Equity</FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47,982.9 </FONT></B></P>
</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49,768.2 </FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD>
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>&nbsp;</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total equity and liabilities</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86,852.0 </FONT></B></P>
</TD>
     <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82,378.9 </FONT></B></P>
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<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>23</FONT></FONT></FONT></P></DIV></TD></TR></TABLE>&nbsp; <A name="page_23"></A>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>CONSOLIDATED INCOME STATEMENT</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>R$ million</FONT></I></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q17</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q18</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,241.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 11,640.2 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cost of goods sold </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (4,523.1)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (4,460.7)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 6,718.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,179.5 </FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sales and marketing expenses</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (2,925.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (3,095.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (555.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (572.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized EBIT</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,528.6 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,769.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Exceptional items</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income from operations (EBIT)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,499.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,761.2 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net finance results</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (872.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (544.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Share of results of joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,628.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,217.5 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (338.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (619.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,289.8 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,597.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Equity holders of Ambev</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,199.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,516.0 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-controlling interest</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81.7 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Basic earnings per share (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.14 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Diluted earnings per share (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.14 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized Profit</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,316.0 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,610.9 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized basic earnings per share (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.14 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Normalized diluted earnings per share (R$)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>0.14 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>N&#186; of basic shares outstanding (million of shares)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>15,700.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 15,713.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>N&#186; of diluted shares outstanding (million if shares)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>15,832.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; 15,842.8 </FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>First Quarter 2018 Results</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>May 9<SUP></SUP>, 2018</FONT></B><FONT color=black face="trebuchet ms,sans-serif"></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4pt" align=right><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif>Page | </FONT></FONT><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4b3a2e face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>24</FONT></FONT></FONT></P></DIV></TD></TR></TABLE>&nbsp; <A name="page_24"></A>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>CONSOLIDATED STATEMENT OF CASH FLOWS</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: #886d4b; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>R$ million</FONT></I></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q17</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: white 1pt solid; BACKGROUND: #886d4b; BORDER-BOTTOM: white 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q18</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Profit</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,289.8 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,597.6 </FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Depreciation, amortization and impairment</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 827.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 869.1 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment losses on receivables and inventories</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>28.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35.0 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Additions/(reversals) in provisions and employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>49.1 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46.2 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net finance cost</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544.3 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loss/(gain) on sale of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>5.4 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21.9 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity-settled share-based payment expense</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>45.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 619.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Share of result of joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-cash items included in the profit</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>123.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (115.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash flow from operating activities before changes in working capital and provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,578.6 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 4,651.7 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(Increase)/decrease in trade and other receivables</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,438.3 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(Increase)/decrease in inventories</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (199.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (464.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Increase/(decrease) in trade and other payables</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2,707.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (2,509.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash generated from operations</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,109.0 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,542.9 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (155.2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest received</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55.3 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Dividends received</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.9 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contributions paid</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1,028.6)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (1,749.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash flow from operating activities</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,984.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792.3 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; 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: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Proceeds from sale of property, plant, equipment and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>10.5 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Acquisition of property, plant, equipment and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(559.5)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (472.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Acquisition of subsidiaries, net of cash acquired</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(332.7)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (3,074.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Acquisition of other investments</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(Investments)/net proceeds of debt securities</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>272.6 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net proceeds/(acquisition) of other assets</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash flow used in investing activities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(607.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (3,558.3)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; 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: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Capital increase</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Proceeds/(repurchase) of shares</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48.4)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Proceeds from borrowings</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,238.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,026.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Repayment of borrowings</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (1,482.8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash net finance costs other than interests</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(429.9)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (307.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Payment of finance lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2.3)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Dividends and interest on shareholders&#8217; equity paid</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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 lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1,132.0)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (1,099.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash flow used in financing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1,857.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 521.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; 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: 1pt">

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net&nbsp; increase/(decrease) in Cash and cash equivalents</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(480.2)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #886d4b 1pt dotted; HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp; (2,244.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and cash equivalents less bank overdrafts at <BR>beginning of period</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,876.8 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 10,352.7 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Effect of exchange rate fluctuations&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(167.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (154.9)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and cash equivalents less bank overdrafts at <BR>end of period</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,229.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: #886d4b 2.25pt double; 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><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 7,953.4 </FONT></B></P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 6pt" align=right><FONT color=black face=helvetica,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=helvetica,sans-serif>AMBEV REPORTS 2018 FIRST QUARTER RESULTS UNDER IFRS</FONT></B></FONT><FONT color=black face=helvetica,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=helvetica,sans-serif> </FONT></FONT>
<IMG border=0 src="bot1.jpg"> </P></DIV>

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<DIV style="TEXT-ALIGN: center; DISPLAY: block; TEXT-INDENT: 0pt"><FONT style="FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-WEIGHT: bold; DISPLAY: inline"><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="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 10pt; DISPLAY: inline"><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="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</DIV>

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<DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">Date:&nbsp;May 9, 2018</FONT></FONT></DIV>

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   <TD vAlign=middle width="49%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="2%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="49%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD></TR>

<TR>

   <TD vAlign=middle width="49%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="51%" colSpan=2 align=left>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 10pt; DISPLAY: inline">AMBEV S.A. </FONT></DIV></TD></TR>

<TR>

   <TD vAlign=middle width="49%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="2%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="49%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD></TR>

<TR>

   <TD vAlign=middle width="49%"><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

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   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 10pt; DISPLAY: inline">By:&nbsp; </FONT></DIV></TD>

   <TD style="BORDER-BOTTOM: black 2px solid" vAlign=middle width="49%" align=left>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 10pt; DISPLAY: inline">/s/ <FONT style="FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-SIZE: 10pt; DISPLAY: inline">Ricardo Rittes de Oliveira Silva</FONT></FONT></FONT></DIV></TD></TR>

<TR>

   <TD vAlign=middle width="51%" colSpan=2><FONT style="FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="49%" align=left>

   <DIV style="DISPLAY: block; TEXT-INDENT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; DISPLAY: inline">Ricardo Rittes de Oliveira Silva</FONT></DIV>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 10pt; DISPLAY: inline">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 id=PGBRK style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">

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<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT style="FONT-SIZE: 8pt; COLOR: #000000; DISPLAY: inline"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">&nbsp; </FONT></FONT></DIV></DIV></DIV>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
