<SEC-DOCUMENT>0001292814-14-000778.txt : 20140401
<SEC-HEADER>0001292814-14-000778.hdr.sgml : 20140401
<ACCEPTANCE-DATETIME>20140401105904
ACCESSION NUMBER:		0001292814-14-000778
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20131231
FILED AS OF DATE:		20140401
DATE AS OF CHANGE:		20140401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
		CENTRAL INDEX KEY:			0001170858
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31317
		FILM NUMBER:		14732716

	BUSINESS ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
		BUSINESS PHONE:		011-55-11-3388-8000

	MAIL ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sbspr4q13_6k.htm
<DESCRIPTION>SABESP ANNOUNCES 2013 RESULTS
<TEXT>

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<DIV align=center><FONT color=#000000 size=3 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, DC 20549 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 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"><B>REPORT OF FOREIGN ISSUER</B><BR><B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></DIV>

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;April 1, 2014</B></FONT></DIV><FONT color=#000000 size=2 face="Times New Roman"><B>(Commission File No. 1-31317) </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV>

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

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Basic Sanitation Company of the State of Sao Paulo - SABESP </B></FONT></DIV>

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

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>Rua Costa Carvalho, 300 <BR>S&#227;o Paulo, S.P., 05429-900 <BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Address of Registrant's principal executive offices) </I></FONT></DIV><BR>

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<BR>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark whether the registrant files or will file <BR>annual reports under cover Form 20-F or Form 40-F. <BR><BR>Form 20-F ___X___ Form 40-F ______</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(1)__.</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(7)__.</FONT></DIV>

<P></P>

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

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">If "Yes" is marked, indicated below the file number assigned to the<BR>registrant in connection with Rule 12g3-2(b):</FONT> </DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=Arial,sans-serif>CIA. DE SANEAMENTO B&#193;SICO DO ESTADO DE S&#195;O PAULO - SABESP</FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif>Rui de Britto &#193;lvares Affonso</FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif>Chief Financial Officer and Investor Relations Officer</FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif>Mario Azevedo de Arruda Sampaio</FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif>Head of Capital Markets and Investor Relations</FONT></P></DIV>

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   <TD style="BORDER-RIGHT: #000080 3px solid" vAlign=top rowSpan=11 align=center><B><FONT color=#000080 size=5 face=sans-serif>SABESP announces 2013 results</FONT></B><BR>

   <P style="MARGIN-LEFT: 10pt; MARGIN-RIGHT: 10pt" align=justify><FONT size=2 face=sans-serif>S&#227;o Paulo, March 28, 2014 - </FONT><B><FONT size=2 face=sans-serif>Companhia de Saneamento B&#225;sico do </FONT></B><B><FONT size=2 face=sans-serif>Estado de S&#227;o Paulo - SABESP </FONT></B><FONT size=2 face=sans-serif>(BM&amp;FBovespa: SBSP3; NYSE: SBS), one </FONT><FONT size=2 face=sans-serif>of the largest water and sewage services providers in the world based on the </FONT><FONT size=2 face=sans-serif>number of costumers, announces today its results for the </FONT><B><FONT size=2 face=sans-serif>the fiscal year </FONT></B><B><FONT size=2 face=sans-serif>2013</FONT></B><FONT size=2 face=sans-serif>. The Company&#8217;s operating and financial information, except when </FONT><FONT size=2 face=sans-serif>indicated otherwise is presented in Brazilian Reais, in accordance with the </FONT><FONT size=2 face=sans-serif>Brazilian Corporate Law. <U>All comparisons in this release, unless otherwise </U></FONT><FONT size=2 face=sans-serif><U>stated, refer to the same period of 2012.</U></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>1. Financial highlights</FONT></B></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Gross operating revenue</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2,425.8 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2,520.5 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>94.7 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.9 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>8,926.7 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>9,540.0 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>613.3 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.9 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Construction revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>723.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>740.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>17.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,464.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,444.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(19.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(-) COFINS and PASEP taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>175.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>159.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(15.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(9.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>653.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>669.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(=) Net operating revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,973.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,101.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>128.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10,737.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11,315.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>578.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(-) Costs and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,439.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,516.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>77.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,450.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,788.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>337.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(-) Cunstruction costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>710.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>725.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,414.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,394.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(19.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Equity result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(2.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(131.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>136.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Other operating revenue/expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(18.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(28.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(296.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(23.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>26.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>114.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(=) Earnings before financial result, income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>831.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>842.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,843.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,138.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>295.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Net financial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>100.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(183.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(283.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(283.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(295.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(483.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(187.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>63.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(=) Earnings before income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>931.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>658.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(272.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(29.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,547.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,655.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>108.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(165.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(68.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>97.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(58.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(635.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(732.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(96.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>765.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>590.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(174.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(22.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,911.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,923.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Earnings per share (R$)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.36 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.59 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8.39 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8.44 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 21.55pt 0pt 0cm"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>Adjusted EBITDA Reconciliation&nbsp;(Non-accounting measures)</FONT></B></P>

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

<DIV align=left>

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



<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>765.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>590.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(174.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(22.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,911.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,923.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>165.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>68.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(97.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(58.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>635.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>732.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>96.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Net financial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(100.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>183.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>283.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(283.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>295.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>483.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>187.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>63.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Other operating revenues/expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(9.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>18.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>28.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(296.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>23.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(3.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(26.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(114.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(=) Earnings before financial result (EBIT)*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>821.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>861.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>39.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,866.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,135.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>269.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(+) Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>194.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>270.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>76.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>39.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>738.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>871.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>132.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>18.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(=) Adjusted EBITDA **</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,016.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,131.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>115.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,605.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,006.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>401.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(%) Adjusted EBITDA margin</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>34.2 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>36.5 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>33.6 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>35.4 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(*) Earnings before interest, income tax and social contribution.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(**) Adjusted EBITDA is net income before: (i) depreciation and amortization; (ii) income tax and social contribution (income federal taxes); (iii) financial result and (iv) other operating expenses, net.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 2013, net operating revenue reached R$ 11.3 billion, a 5.4% growth compared to 2012.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Costs and expenses, including construction costs, increased 4.0%, from R$ 7.9 billion in 2012 to R$ 8.2 billion in 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>EBIT grew 9.4%, from R$ 2.9 billion in 2012 to R$ 3.1 billion in 2013. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Adjusted EBITDA increased 11.1%, from R$ 3.6 billion in 2012 to R$ 4.0 billion in 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The adjusted EBITDA margin moved from 33.6% in 2012 to 35.4% in 2013. Excluding construction revenues and construction costs, the adjusted EBITDA margin was 44.6% in 2013 (43.0% in 2012).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Net income grew 0.6%, from R$ 1.91 billion in 2012 to R$ 1.92 billion in 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>2. Gross operating revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Gross operating revenue from water and sewage grew from R$ 8.9 billion in 2012 to R$ 9.5 billion in 2013, an increase of R$ 613.3 million or 6.9%. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The main factors that led to this variation were: </FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 6pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Increase of 2.8% in the Company&#8217;s total billed volume (2.6% in water and 2.9% in sewage); and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 6pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Average effect of the 5.6% tariff adjustment. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The tariff adjustment in 2013 were:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 6pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Tariff adjustment of 5.15% since September 2012;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 6pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The tariff repositioning index of 2.35% applied since April 2013; and</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>2</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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   <IMG border=0 align=middle src="sbspr4q13_6ksabespannounx1x1.jpg"></CENTER></TD></TR></TABLE>&nbsp; <A name="page_3"></A>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 6pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Tariff adjustment of 3.1% since December 2013, whose impact will begin in January 2014. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 5pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>3. Construction revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Construction revenue decreased R$ 19.7 million or 0.8%, when compared to 2012. There were no material variations in concession-related investments. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif><BR></FONT></B><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>4. Billed volume</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The following tables show the water and sewage billed volume, year-on-year and quarter-on-quarter, per customer category and region, with highlight to the volume of effluents to Aquapolo Ambiental for the production of reused water, which are now disclosed separately from reused water produced by Sabesp.</FONT></P>

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

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

<DIV align=left>

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



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="100%" colSpan=10 align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>WATER AND SEWAGE BILLED VOLUME <SUP>(1)</SUP> PER CUSTOMER CATEGORY - million m<SUP>3</SUP></FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Water</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Water + Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Category</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Residential</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>392.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>405.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>324.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>336.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>717.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>742.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Commercial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>44.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>44.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>40.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>41.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>84.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>86.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Industrial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>20.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>21.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Public</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>13.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>13.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total retail</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>460.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>474.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>386.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>400.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>846.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>875.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.4 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>75.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>75.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>81.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>82.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Reused water</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Effluents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>535.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>550.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.7 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>393.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>411.0 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>928.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>961.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.5 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Residential</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,530.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,565.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,262.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,299.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,792.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,864.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Commercial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>172.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>175.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>160.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>163.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>333.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>338.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Industrial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>38.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>39.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>41.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>44.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>79.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>83.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Public</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>42.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>42.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>97.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>97.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total retail</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,795.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,835.0 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,507.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,549.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,303.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,384.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.5 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>297.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>299.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>27.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>29.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>324.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>328.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Reused water</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Effluents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>14.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>14.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,093.8 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,134.4 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,534.5 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,593.8 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,628.3 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,728.2 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.8 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="100%" colSpan=10 align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>WATER AND SEWAGE BILLED VOLUME <SUP>(1)</SUP> PER REGION - million m<SUP>3</SUP></FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Water</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Water + Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Region</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Metropolitan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>301.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>310.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>256.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>264.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>558.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>575.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Regional<SUP> (2)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>158.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>164.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>129.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>136.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>288.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>300.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total retail</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>460.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>474.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>386.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>400.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>846.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>875.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.4 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>75.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>75.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>81.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>82.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Reused water</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Effluents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>535.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>550.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.7 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>393.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>411.0 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>928.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>961.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #f2f2f2; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.5 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Metropolitan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1,181.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1,206.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1,005.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1,029.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2,187.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2,236.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Regional<SUP> (2)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>614.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>628.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>501.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>520.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>3.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1,115.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>1,148.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total retail</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,795.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,835.0 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,507.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,549.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,303.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,384.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.5 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>297.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>299.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>27.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>29.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>324.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>328.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Reused water</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Effluents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>14.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>14.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,093.8 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,134.4 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,534.5 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,593.8 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,628.3 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,728.2 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.8 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif><FONT size=2><BR></FONT>(1) Unaudited<BR></FONT><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2) Including coastal and interior region</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 21.55pt 0pt 0cm"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 21.55pt 0pt 0cm"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter3"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>3</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 21.55pt 0pt 0cm"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>5. Costs, administrative and selling expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>In 2013, costs, administrative and selling expenses, grew 4.0% (R$ 317.9 million). Excluding construction costs, total costs and expenses grew 6.2%. As a percentage of net revenue, cost and expenses decreased from 73.2% in 2012 to 72.3% in 2013.</FONT></P>

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<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q12</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>4Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payroll and benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>462.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>484.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>22.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,738.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,927.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>188.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>52.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>51.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>181.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>193.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>42.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>57.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>14.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>35.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>177.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>240.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>63.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>35.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>296.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>303.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,075.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,112.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>36.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Electric power</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>147.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>141.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(5.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(3.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>590.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>552.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(37.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>186.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>175.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(11.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>687.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>711.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>23.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>68.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>75.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,198.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,225.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>27.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,519.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,813.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>293.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Depreciation and amortziation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>194.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>270.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>76.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>39.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>738.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>871.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>132.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>18.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Credit write-offs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>46.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>19.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(26.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(56.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>192.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>103.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(88.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(45.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>241.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>290.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>49.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>20.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>930.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>975.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>44.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Costs and expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,439.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,516.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>77.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,450.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,788.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>337.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Construction costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>710.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>725.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,414.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,394.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(19.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Costs, adm., selling and construction expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,149.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,241.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>92.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>7,864.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8,182.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>317.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>% of net revenue</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>72.3 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>72.3 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>73.2 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>72.3 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.1. Payroll and benefits</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>In 2013 payroll and benefits grew R$ 188.3 million or 10.8%, from R$ 1,738.9 million to R$ 1,927.2 million, due to the following: </FONT></P>

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

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>6.17% increase in wages since May 2012 and of 8.0% since May 2013 related to the implementation of the Company&#8217;s new career and wage plan, with an impact of approximately R$ 125.0 million; </FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>R$ 38.0 million upturn in the provision for the Defined Benefit Plan, arising from changes in actuarial assumptions; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 11.0 million increase in meal expenses, mainly due to the 13.6% adjustment on meal voucher in May 2013, settled in the collective bargaining agreement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 4Q13 payroll and benefits grew R$ 22.1 million or 4.8%, due to:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>8.0% increase in wages since May 2013, with an impact of approximately R$ 26.9 million;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Provision for the Defined Benefit Plan in the amount of R$ 7.7 million, arising from changes in actuarial assumptions; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 4.6 million increase in meal expenses, mainly due to the 13.6% adjustment on meal voucher in May 2013, settled in the collective bargaining agreement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The above-mentioned increases were partially offset by the R$ 15.6 million decrease, resulting from the increased adherence of employees who requested retirement and the approval of Law 12,506/11, which changes notice from 30 to 90 days in case of dismissal without cause in 2012.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.2. Supplies</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 2013, expenses with supplies increased by R$ 11.6 million or 6.4%, when compared to the previous year, from R$ 181.8 million to R$ 193.4 million, mostly due to:</FONT></P>

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

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Preventive and corrective maintenance in several water and sewage systems, in the amount of R$ 5.2 million;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>4</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Acquisition of supplies for maintenance and renovation in several operating areas of the S&#227;o Paulo Metropolitan Region, in the amount of R$ 2.1 million; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Expenses with the upkeep of administrative facilities and properties, in the amount of R$ 2.5 million. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.3. Treatment supplies</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Treatment supplies expenses in 2013 were R$ 63.2 million or 35.6% higher than in 2012, from R$ 177.5 million to R$ 240.7 million. The main factors for this variation were:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -21.3pt; MARGIN: 12pt 0cm 6pt 21.3pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Aluminum polychloride, a suitable product for high flows, in the amount R$ 13.8 million, essentially in the Guara&#250; Water Treatment Station (WTS) with an increase of 28.3% in consumption and an upturn of 47.5% in the average cost;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 12pt 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Iron sulfate in the amount of R$ 7.4 million, replacing aluminum polychloride and iron chloride at the Rodolfo Costa e Silva and Rio Grande WTS, for pricing conditions;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 12pt 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Hydrogen peroxide in the amount of R$ 7.0 million, as a result of the proliferation of algae and odor at the sewage pumping stations in the Baixada Santista region; </FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Sodium hypochlorite</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>&nbsp;in the</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 12pt; BACKGROUND: white; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>amount of R$ 6.4 million, as it was used gas to replace chlorine due to its increased efficiency and safety, used in untreated water in the Rio Grande </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>WTS </FONT><FONT style="LINE-HEIGHT: 12pt; BACKGROUND: white; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>and several </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>water treatment stations </FONT><FONT style="LINE-HEIGHT: 12pt; BACKGROUND: white; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>in the countryside and the coastal; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Increase of R$ 12.6 million in the consumption of several products, such as: (i) odor neutralizer in the Lavap&#233;s and Itatiba Sewage Treatment Stations (STS), in the amount of R$ 4.1 million; (ii) lime resulting from the need for increased alkalinization in the Cubat&#227;o and Rodolfo Costa e Silva WTS, in the amount of R$ 3.8 million; (iii) aluminum sulfate, due to the decline in the quality of untreated water in the Taia&#231;upeba and Casa Grande WTS, in the amount of R$ 3.1 million;&nbsp; and (iv) activated carbon, in the amount of R$ 1.6 million, due to watershed and climate conditions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.4. Services</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>In 2013 this item grew R$ 36.7 million or 3.4%, from R$ 1,075.5 million to R$ 1,112.2 million. The main factors were:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Paving services and replacement of sidewalks, m</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>aintenance in the water and sewage network connections, in the amount of R$ 21.0 million, mainly due to the </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>intensification of services referring to the Global Sourcing contract, used at the Corporate Program for Reduction of Water Loss at the S&#227;o Paulo Metropolitan Region;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Preventive and corrective maintenance in the water and sewage systems in the amount of R$ 11.3 million;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Environmental compensation with beach recovery services, in the amount of R$ 9.4 million, due to the public-interest civil action in the cost area;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Hiring of consultancy, advisory and specialized services, with a R$ 7.3 million increase, mainly comprising: diagnosis of the first sewage connection, dissemination of the </FONT><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Se Liga na Rede</FONT></I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif> (&#8220;Connect to the Network&#8221;) program, streamlining of the sewage collection system of the sewersheds and implementation of a new technology to supply consumers in the S&#227;o Paulo Metropolitan Region;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Expenses with risk contracts for credit recovery, in the amount of R$ 6.9 million. As a result of these contracts, collection initiatives generated an increase of R$ 89.3 million in revenue in 2013;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Maintenance of properties and facilities, in the amount of R$ 6.4 million;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Maintenance of software, in the amount of R$ 6.4 million;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>5</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Property cleaning and security, in the amount of R$ 5.5 million, due to the expansion of the monitored areas (Reservoirs. WTSs and STSs);</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Sludge transportation and disposal in the amount of R$ 5.0 million; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Hydrometer reading and bill delivery expenses in the amount of R$ 4.8 million, as a result of the new contracts with services expansion, such as: property inspections, service requests, analysis of outstanding debt and revision of bills.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Services recorded the following decreases:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Advertising campaigns in the amount of R$ 29.4 million; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Revision of provision in the amount of R$ 20.5 million, due to the end of the agreement settled with the S&#227;o Paulo Municipal Government.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.5. Electric power</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>This item decreased R$ 37.1 million, or 6.3%, from R$ 590.0 million in 2012 to R$ 552.9 million in 2013, mainly due to the average decrease of 55.1% in the Tariff for the Use of Distribution System (TUSD), as a consequence of Provisional Presidential Decree 579/12 and Law 12,783/13. The reduction in TUSD was partially offset by the average increase of 5.6% in the free market tariffs and the higher consumption in 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.6. General expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>General expenses grew by R$ 23.5 million or 3.4%, from R$ 687.5 million in 2012 to R$ 711.0 million in 2013, due to the following:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 21.2 million in expropriation expenses, chiefly due to the fulfillment of the commitments to the municipality of Paragua&#231;u Paulista; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>R$ 20.5 million in provision related to the transfer to the municipal fund, pursuant to the Service Agreement with the S&#227;o Paulo Municipal Government, as a result of the increase in revenues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The increases mentioned above were partially offset by the R$ 14.2 million decrease in expenses for lawsuits. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.7. Depreciation and amortization</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Depreciation and amortization increased R$ 132.6 million or 18.0%, from R$ 738.5 million in 2012 to R$ 871.1 million in 2013, due to the transfer of works to the operating intangible asset, in the amount of R$ 1.5 billion.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.8. Credit write-offs</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Credit write-offs decreased R$ 88.3 million, from R$ 192.2 million in 2012 to R$ 103.9 million in 2013, chiefly due to:</FONT></P>

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

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Additional provision held in 2012, in the amount of R$ 49.5 million, for overdue agreements with private clients (R$ 14.4 million) and public state entities (R$ 35.1 million); and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Higher recoveries, through agreements for payment in installments, with an increase of R$ 39.5 million.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.9. Tax expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 2013, there was an increase of R$ 7.3 million or 10.7%, chiefly due to ARSESP&#8217;s Regulation, Control and Inspection Fee, following the upturn in Net Operating Revenue. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>6</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>6. Other operating revenues and expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>6.1. Other operating revenues</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Recorded a R$ 11.4 million decrease, mainly due to an upturn in imposed fines, supplier guarantees and the selling of obsolete assets in 2012.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>6.2. Other operating expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 37.4 million decrease, as a result of the provision for losses regarding </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>the indemnification of the assets related to the concession in the municipality of Diadema</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>, recognized in 2012, in the amount of R$ 60.3 million. This decrease was offset by the R$ 17.8 million increase in the write-off of assets, due to the replacement of old water and sewage connections with new ones.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 14pt" lang=PT-BR color=navy face=Arial,sans-serif>7. Net financial</FONT></B></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Var.</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses, net of revenues</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(247.5)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(200.9)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>46.6 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(18.8)</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net monetary variation</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(48.2)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(282.3)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(234.1)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>485.7 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net financial</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(295.7)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(483.2)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(187.5)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>63.4 </FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=PT-BR color=navy face=Arial,sans-serif>7.1. Financial revenues and expenses </FONT></B></P>

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

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Var.</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Interest and charges on domestic loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(304.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(294.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(3.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Interest and charges on international loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(87.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(84.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(3.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other financial expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(121.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(122.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total financial expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(514.1)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(501.8)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(2.4)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>266.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>300.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>34.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses net of revenues</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(247.5)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(200.9)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>46.6 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(18.8)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>7.1.1. Financial expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Financial expenses dropped R$ 12.3 million or 2.4%. The main reason was the decrease in interest and charges on domestic loans and financing, in the amount of R$ 10.0 million, mainly due to: (i) the amortization of the Banco do Brasil loan in 2013, in the amount of R$ 380.4 million; and (ii) the reduction in the interest spread resulting from the debt swap for the 17<SUP>th</SUP> debenture issue in February 2013 and the early settlement of the balance of the 11<SUP>th</SUP> debenture issue in March 2013. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>7.1.2. Financial revenues</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Financial revenues increased by R$ 34.3 million or 12.9%, due to: (i) interest over installment agreements; and (ii) interest recognized between the issue and subscription dates of the 17<SUP>th</SUP> and 18<SUP>th</SUP> debentures.</FONT></P>

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

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

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

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

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

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

<a name="_bclFooter7"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>7</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>7.2. Net monetary variation</FONT></B>&nbsp;</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Var.</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Monetary variation on loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(34.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(72.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(38.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>110.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Currency exchange variation on loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(50.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(267.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(217.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>430.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other monetary/exchange rate variations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(29.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(28.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(4.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Monetary variation on liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(114.7)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(368.9)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(254.2)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>221.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Monetary variation on assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>66.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>86.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>20.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>30.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net monetary variation</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(48.2)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(282.3)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(234.1)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>485.7 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif><BR></FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>7.2.1. Monetary variation on liabilities</FONT></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The effect on the monetary variation on liabilities in 2013 was R$ 254.2 million or 221.6% higher than in 2012, specially:</FONT></P>

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

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Increase of R$ 217.3 million in expenses of </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>exchange rate variation over loans and financing</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>, mainly deriving from&nbsp; the higher appreciation of the US Dollar versus Brazilian Real in 2013 of 14.6%, when compared to the 8.9% appreciation in 2012; partially offset by the depreciation of the Japanese Yen versus Brazilian Real of 5.9% in 2013, compared to a 2.4% depreciation in 2012; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 6pt 18pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 38.1 million increase in monetary variation expenses over domestic loans and financing, as a result of the 17<SUP>th</SUP> and 18<SUP>th</SUP> debenture issue, in February and December 2013, respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>7.2.2. Monetary variation on assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Monetary variation on assets increased by R$ 20.1 million, chiefly due to inflation adjustment on installments agreements held in 2013.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>8. Income tax and social contribution</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Income tax and social contribution expenses increased by R$ 96.3 million, due to increase in the taxable income&nbsp; in the period.</FONT></P>

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

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>9. Indicators</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 4pt" lang=EN-US color=black face=Arial,sans-serif><BR></FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>9.1. Operating</FONT></B></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The water loss ratio continued falling and closed 2013 at 24.4%. In regard of the use of water resources, it is important to stress the decline in real losses (water physically lost, which corresponds to around 65% of the micromeasurement loss ratio), from 22.2% to 20.3% from December 2008 to December 2013. Since 2009, the Corporate Program for Reduction of Water Losses, designed to achieve a billing water loss ratio of 18% in 2020, had received R$ 1.5 billion in investments since 2009 out of the planned amount of R$ 5.9 billion by 2020. In 2013 alone, the Company invested R$ 424 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Production volume edged down by 0.2% despite the 1.7% increase in the population served.</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>&nbsp;&nbsp;</FONT></P>

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

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>8</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Operating indicators*</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

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

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Water connections <SUP>(1)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>7,679 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>7,888 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sewage connections <SUP>(1)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,128 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,340 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Population directly served - water <SUP>(2)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Population directly served - sewage <SUP>(2)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>21.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>21.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Number of employees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15,019 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>15,015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Water volume produced <SUP>(3)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,059 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,053 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(0.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Water losses (%)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>25.7 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24.4 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(5.1)</FONT></P></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT></DIV></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 99.25pt"><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(1)</FONT><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; &nbsp;</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;Total connections, active and inactive, in thousand units at the end of the period</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 13.65pt; MARGIN: 0cm 0cm 0pt 71.4pt"><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(2)</FONT><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>In million inhabitants, at the end of the period. Not including wholesale</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 13.65pt; MARGIN: 0cm 0cm 0pt 71.4pt"><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(3)</FONT><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>In millions of cubic meters at the end of the period</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 3cm"><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(*)&nbsp;&nbsp;&nbsp; &nbsp;</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Unaudited&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 53.4pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>9.2. Financial</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Economic Indexes* (year end)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Amplified Consumer Price Index (IPCA)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.79%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.92%</FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Referential Rate (TR)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.0494 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interbank Deposit Certificate (CDI)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.90%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9.77%</FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>US DOLAR (R$)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.0435 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.8pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.3426 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>YEN (R$)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.0237 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.0223 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif><BR>(*)&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Unaudited&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>10. Loans and financing</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>At the end of 2013, the Company&#8217;s total debt came to approximately R$ 9.5 billion, 39.1% of which denominated in foreign currency. Most of the debt denominated in foreign currency was taken out with international financing institutions, with long maturity terms, amortization schedule diluted in time and low interest rates. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm 12pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Sabesp uses its own and third-party funds to finance its investment plan, and most of the Company&#8217;s debt (60.2%) was contracted with official national and international government agencies and multilateral organisms at a low cost and with long terms. Funds are also raised in the national and international capital market, preferably to manage debt.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Regarding funding for capex, in December 2013, as part of Selection 2012-2013 of the Ministry of Cities, we entered into an agreement totaling R$ 415 million to expand catchment and operating capacity at the Guara&#250; Water Treatment Station and to implement the R3 Tunnel Reservoir of the same WTS, part of the &nbsp;the Metropolitan Water Program. The total term for this contract is up to 144 months, with a grace period of 36 months and yielding the TJLP long-term interest rate + 1.66 p.a. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>9</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>INSTITUTION</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2019</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2020 and onwards</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; PADDING-TOP: 0cm" vAlign=top width="9%">

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

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Local market</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Banco do Brasil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>100.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>100.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Caixa Econ&#244;mica Federal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>83.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>61.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>61.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>64.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>68.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>72.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>630.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,043.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>594.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>236.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>257.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>431.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>494.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>493.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,507.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Debentures BNDES</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>57.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>73.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>73.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>73.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>73.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>73.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>123.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>548.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Debentures FI FGTS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>22.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>45.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>45.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>45.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>45.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>45.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>250.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>500.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>BNDES</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>47.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>49.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>58.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>58.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>58.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>226.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>553.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>0.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>382.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>385.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>113.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>113.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Local market total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>425.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>825.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>473.7</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>499.6</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>677.4</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>743.9</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,106.9</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,751.5 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>International market</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>BID</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>89.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>89.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>89.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>112.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>618.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,108.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>BIRD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>84.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>87.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Eurobonds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>327.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>813.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,141.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>JICA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>48.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>48.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>48.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>49.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>49.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>623.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>925.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>BID 1983AB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>55.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>41.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>93.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>415.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>21.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>21.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>International market total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>216.0</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>194.3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>522.0</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>218.1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>159.3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>155.2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,233.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,698.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="28%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>641.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,019.3</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>995.7</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>717.7</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>836.7</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>899.1</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,340.6</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.35pt; BORDER-TOP: #003366 1pt solid; PADDING-TOP: 0cm" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9,450.1</FONT></B></P></TD></TR></TABLE><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt">&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>Amortization schedule</FONT></B></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P align=center>
<IMG border=0 src="sbspr4q13_6ksabespannoux10x1.jpg"></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>11. CAPEX </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 2013, Capex totaled R$ 2.7 billion, of which R$ 1.6 billion in S&#227;o Paulo metropolitan region and R$ 1.1 billion in the Regional Systems; R$ 1.1 billion for water supply and R$ 1.6 billion for sewage, as follows:</FONT></P>

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

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

<DIV align=left>

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



<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Capex by segment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

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

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Metropolitan Region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>652.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>977.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,629.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Regional Systems</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>451.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>635.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,086.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,103.7 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,612.3 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,716.0 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The Company plans to invest R$ 12.8 billion between 2014 and 2018. R$ 3.9 billion of which in water and R$ 6.3 billion in sewage.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter10"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>10</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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   <CENTER>
   <IMG border=0 align=middle src="sbspr4q13_6ksabespannounx1x1.jpg"></CENTER></TD></TR></TABLE>&nbsp; <A name="page_11"></A>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=PT-BR color=navy face=Arial,sans-serif>Investment Program 2014 &#8211; 2018: R$ 12.8 billion</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="40%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #333399; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Water Supply</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,139 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,129 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,087 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>956 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>974 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,284 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sewage Collection</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,092 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,069 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>889 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>893 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,107 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.35pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,051 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sewage Treatment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>411 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>478 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>553 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>647 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>339 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #eeece1; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,428 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,642 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,676 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,529 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,496 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,420 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #003366 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 13.1pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12,763 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt" align=left><B><FONT style="FONT-SIZE: 14pt" lang=PT-BR color=navy face=Arial,sans-serif>12. Conference calls</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=PT-BR color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 50%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 154.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 154.95pt; PADDING-TOP: 0cm" vAlign=top width="51%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>In Portuguese</FONT></U></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>March 31, 2014</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>10:30 am (Bras&#237;lia) / 9:30 am (US EST)</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Dial in: 55 (11) 2188-0155</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Conference ID: Sabesp</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><I><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Replay available for 7 days</FONT></U></I></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Dial in: 55 (11) 2188-0155</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Replay ID: Sabesp</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Click here to access the webcast</FONT></P>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000081 face=Arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 10pt" lang=EN-US color=red face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 154.95pt; PADDING-TOP: 0cm" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>In English</FONT></U></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>March 31, 2014</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>2:00 pm (Bras&#237;lia) / 1:00 pm (US EST)</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Dial in: 1 (412) 317-6776</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Conference ID: Sabesp</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><I><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Replay available for 7 days</FONT></U></I></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Dial in: 1(412) 317-0088</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Replay ID: 10042913</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Click here</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" face=Arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>to access the webcast</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 10pt" lang=EN-US color=red face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>For more information, please contact:</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></I>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif>Mario Arruda Sampaio</FONT></I></P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif>Phone.(55 11) 3388-8664</FONT></I></P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif>E-mail: </FONT></I><I><U><FONT style="FONT-SIZE: 10pt" lang=PT-BR color=blue face=Arial,sans-serif>maasampaio@sabesp.com.br&nbsp;</FONT></U></I></P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT></I>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif>Angela Beatriz Airoldi&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;&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;&nbsp;&nbsp;&nbsp; </FONT></I></P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif>Phone.(55 11) 3388-8793</FONT></I></P>

<P style="MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif>E-mail: </FONT></I><I><U><FONT style="FONT-SIZE: 10pt" lang=PT-BR color=blue face=Arial,sans-serif>abairoldi@sabesp.com.br&nbsp;</FONT></U></I></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt; TEXT-DECORATION: none" lang=PT-BR color=blue face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt"><I><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=Arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif>Statements contained in this press release may contain information that is forward-looking and reflects management's current view and estimates of future economic circumstances, industry conditions, SABESP performance, and financial 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></I></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>11</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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   <IMG border=0 align=middle src="sbspr4q13_6ksabespannounx1x1.jpg"></CENTER></TD></TR></TABLE>&nbsp; <A name="page_12"></A>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>Income Statement</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #ffffff; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Corporate Law Method (Law No. 6,404/76)</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>R$ '000</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: #000080; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; COLOR: #ffffff; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross Operating Revenue</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11,984,756 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11,391,219 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Water Supply - Retail</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,972,870 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,652,119 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Water Supply - Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>208,651 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>187,419 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Sewage Collection and Treatment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,187,274 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,901,435 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Sewage Collection and Treatment - Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>26,137 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>23,758 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Construction Revenue - Water</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,011,412 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,053,543 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Construction Revenue - Sewage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,433,323 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,410,939 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>145,089 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>162,006 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Taxes on Sales and Services - COFINS and PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(669,189)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(653,588)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net Operating Revenue</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11,315,567 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10,737,631 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Operating Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6,816,263)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6,449,951)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross Profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,499,304 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,287,680 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Operating Expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Selling</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(637,103)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(697,252)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Administrative</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(729,117)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(717,377)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other operating revenue (expenses), net&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,296 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(23,175)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Operating Income Before Shareholdings&nbsp; </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,136,380 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,849,876 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Equity Result&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,465 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6,532)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Earnings Before Financial Results, net</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,138,845 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,843,344 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Financial, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(216,800)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(245,101)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Exchange gain (loss), net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(266,446)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(50,571)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Earnings before Income Tax and Social Contribution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,655,599 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,547,672 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Income Tax and Social Contribution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(742,578)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(593,743)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Deferred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10,538 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(42,029)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Net Income (loss) for the period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,923,559 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,911,900 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Registered common shares ('000)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>683,509 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>683,509 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Earnings per shares - R$ (per share)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.81 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.80 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Depreciation and Amortization</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(871,073)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(738,525)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Adjusted EBITDA</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,006,622 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 15.7pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,605,044 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 14pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 14pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>% over net revenue</FONT></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 14pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>35.4%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 14pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>33.6%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=PT-BR color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>12</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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   <TD width="100%">

   <CENTER>
   <IMG border=0 align=middle src="sbspr4q13_6ksabespannounx1x1.jpg"></CENTER></TD></TR></TABLE>&nbsp; <A name="page_13"></A>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P></DIV><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0cm" align=center><BR>Balance Sheet</P></FONT></B>&nbsp;

<P></P>

<DIV align=left>

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



<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>Brazilian Corporate Law</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>R$ '000</FONT></B></P></TD></TR>

<TR style="HEIGHT: 26.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 26.6pt; PADDING-TOP: 0cm" vAlign=middle width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>ASSETS</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 26.6pt; PADDING-TOP: 0cm" vAlign=middle width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>12/31/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 26.6pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>12/31/2012</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Restated</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,782,001 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,915,974 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Accounts Receivable from Clients</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,120,053 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,038,945 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Related Party Balance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>134,855 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>109,273 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Inventory</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>58,401 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>53,028 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Restricted cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>10,333 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>64,977 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>87,405 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>118,421 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>61,039 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>29,980 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Current Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,254,087 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,330,598 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Non-Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Accounts Receivable from Clients</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>395,512 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>335,687 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Related Party Balance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>130,457 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>153,098 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Judicial Deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54,827 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>53,158 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Deferred income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>114,030 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>145,302 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>National Water Agencie - ANA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>107,003 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>108,099 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>94,952 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>111,047 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>896,781 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>906,391 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>23,660 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>20,826 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54,039 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54,046 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>23,846,231 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>21,967,526 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Permanent Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>199,496 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>196,710 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24,123,426 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>22,239,108 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Non-Current Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>25,020,207 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>23,145,499 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>28,274,294 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>26,476,097 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>LIABILITIES AND SHAREHOLDERS' EQUITY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>12/31/2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>12/31/2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 11.5pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 11.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 11.5pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Contractors and Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>275,051 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>295,392 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>long term loans </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>640,940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,342,594 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Salaries and Payroll Charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>314,926 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>267,332 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other taxes and contributions payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>115,382 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>152,710 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Interest on Own Capital Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>456,975 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>414,355 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>631,374 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>565,083 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Services payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>323,208 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>389,091 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Public private partnership</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>20,241 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24,357 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Contracts agreementes payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>77,360 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>148,220 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>116,924 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>159,055 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Current Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,972,381 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,758,189 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Non-Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Loans and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>8,809,134 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>7,532,661 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Deferred Cofins/Pasep taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>129,849 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>123,731 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>549,008 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>624,071 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Pension Plan Obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,327,016 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,592,550 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Public private partnership</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>322,267 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>331,960 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Contracts agreementes payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>88,678 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>87,407 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>145,160 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>168,766 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Non Current Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12,371,112 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11,461,146 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Shareholders' Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Capital Stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,203,688 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,203,688 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Capital Reserves</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>124,255 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>124,255 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Income reserve and accrued earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,736,389 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,387,634 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 10pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(133,531)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(458,815)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Shareholders' Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12,930,801 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>11,256,762 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.25pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Total Liabilities and Shareholders' Equity</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>28,274,294 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.25pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>26,476,097 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P>

<a name="_bclFooter13"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>13</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P></DIV></DIV>

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



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



<TR>

   <TD width="100%">

   <CENTER>
   <IMG border=0 align=middle src="sbspr4q13_6ksabespannounx1x1.jpg"></CENTER></TD></TR></TABLE>&nbsp; <A name="page_14"></A>

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<a name="_bclHeader14"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>Cash Flow</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian Corporate Law</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ '000</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: navy; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash flow from operating activities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Earnings before income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,655,599 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,547,672 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Depreciation and Amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>871,073 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>738,525 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Losses from the sale of fixed and intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>28,498 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>12,059 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provisions for bad debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>103,864 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>192,236 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provision and provisions monetary variation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>202,730 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>201,196 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Interest calculated over loans and financing payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>390,039 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>404,196 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Monetary and exchange variation over loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>340,492 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>85,122 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Variation on liabilities and interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>18,401 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>24,553 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Variation on assets and interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(7,671)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(12,862)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Financial charges from clients</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(234,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(171,481)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Fair value margin on intangible assets from</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(50,248)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(50,072)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provision for the conduct adjustment agreement (TAC)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>22,518 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>57,332 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Indemnities receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>60,295 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Equity result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(2,465)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,532 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>S&#227;o Paulo municipal goverment transfers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>3,168 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,466 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provision for Sabesprev Mais</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,728 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Pension plan obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>260,003 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>213,747 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other write-offs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(33,576)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>34,772 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Adjusted net income (generated by operating activities)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,577,454 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>4,352,016 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Variation on Assets and Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(600,027)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(858,428)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>(Increase) decrease in assets:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Accounts receivable from clients</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(11,515)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>56,003 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Balances and transactions with related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,586 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>60,450 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(6,133)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(8,858)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>31,016 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(29,758)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Judicial deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1,669)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,020 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other accounts receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(13,868)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(77,613)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Increase (decrease) in liabilities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Contractors and suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(15,454)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(16,898)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Payment for services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(65,883)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,975 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>47,594 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(33,502)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other taxes and contributions payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(146,664)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(47,800)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Defered COFINS/PASEP Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>6,118 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>9,625 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(211,502)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(583,871)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Pension plan obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(158,442)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(140,115)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Other accounts payable </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(59,211)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(53,086)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Others</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1,200,245)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1,150,347)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(533,362)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(589,189)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Income tax and contribution paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(666,883)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(561,158)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Net cash generated from operating activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,777,182 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,343,241 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash flow from investing activities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Acquisition of intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(2,305,031)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(2,008,699)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Acquisition of property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(30,743)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(17,377)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Increase in investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(369)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(5,372)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Restricted cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>54,644 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>34,752 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Net cash used in investing activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(2,281,499)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1,996,696)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash flow from financing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Funding</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,779,529 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,620,852 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Amortizations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1,780,673)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(1,518,240)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Payment of interest on own capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(498,669)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(578,705)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Public and private partnership</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(13,809)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(40,285)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Program contracts payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(116,034)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(56,272)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Net cash generated (invested) at financing activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(629,656)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(572,650)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Increase (decrease) in cash and equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(133,973)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(226,105)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash and cash equivalents at the beginning of the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,915,974 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,142,079 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash and cash equivalents at the end of the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,782,001 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>1,915,974 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="76%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Changes in Cash and Cash Equivalents</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(133,973)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt; BACKGROUND: white; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=black face=arial,sans-serif>(226,105)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif></FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>1<FONT style="FONT-SIZE: 10pt" face=Arial>4</FONT></FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif> of </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=arial,sans-serif>14</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P>

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

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



<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>SIGNATURE&nbsp;</U></B></FONT><FONT size=1>&nbsp;</FONT></DIV></U></B></FONT>

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

<DIV align=justify><FONT color=#000000 size=3 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, in the city S&#227;o Paulo, Brazil. <BR></FONT></DIV>

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;April 1, 2014</FONT></DIV>

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

<DIV align=center>

<TABLE style="WIDTH: 70%" cellSpacing=0 cellPadding=0>



<TR>

   <TD vAlign=top width="50%" colSpan=3>

   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV></TD></TR>

<TR>

   <TD height=16></TD>

   <TD height=16></TD>

   <TD height=16></TD></TR>

<TR>

   <TD vAlign=top align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></TD>

   <TD vAlign=bottom align=left>/s/&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rui de Britto &#193;lvares Affonso&nbsp;

   <HR align=left color=#000000 SIZE=1 noShade>

</TD>

   <TD></TD></TR>

<TR>

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

   <TD vAlign=bottom width="53%" align=center>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>

   <TD></TD></TR></TABLE></DIV>

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

<P>&nbsp;</P>

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

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="'Times New Roman, Times, Serif'">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or 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>

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

</DIV></DIV>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
